The Legal Entity Identifier – Also Relevant to Switzerland

This post is also available in: French German

The Legal Entity Identifier (LEI) emerged in the wake of the Lehman Brothers bankruptcy. At the Los Cabos Summit in June 2012, the G20 members approved a system for the unique identification of financial market players (Global Legal Entity Identifier System, GLEIS) to make it easier for both the private sector and public authorities to manage and control risks in the financial market. This system allows financial institutions to identify companies that are active on the financial market by way of a globally unique identifier.

During its 4 December 2015 session, the Swiss Federal Council voted that Switzerland adopt the GLEIS. It is hoped that this internationally standardised identification number for financial market participants will improve the quality of financial data and facilitate the assessment of systemic risks.

The focus of this paper lies on following topics:
  • How did the LEI come about?
  • What is an LEI?
  • Who needs an LEI?
  • Is an LEI the same for all asset classes?
  • How do I obtain an LEI?
  • What does the LEI mean for you?

Find out more

Stefan Wüest, Patrick Frigo and Erol Baruh will be happy to answer all your questions regarding LEIs.

Your PwC contacts

Stefan Wüest
PwC | Assurance Director
stefan.wueest@ch.pwc.com
+41 58 792 59 51

Patrick Frigo
PwC | Assurance Senior Manager
patrick.frigo@ch.pwc.com
+41 58 792 22 76

Erol Baruh
PwC | Assurance Senior Manager
erol.baruh@ch.pwc.com
+41 58 792 91 62

Published by

Stefan Wüest

Stefan Wüest

Assurance Director
St. Jakobs-Strasse 25
Postfach, 4002 Basel
+41 58 792 5951

Stefan Wüest is a director in the Assurance practice and heads the Swiss Assurance Treasury Team. Stefan Wüest has more than 20 years of audit experience in the banking sector as well as treasury and investments audit area. In his current role he serves banking clients and treasury related matters with large national and multinational clients in different sectors.

Stefan is a Swiss Certified Public Accountant and Certified International Investment Analyst (CIIA).