ON 13 DECEMBER 2022, THE COMMISSARIAT AUX ASSURANCES ("CAA") PUBLISHED CIRCULAR LETTER 22/19 ON USE OF THE LEGAL ENTITY IDENTIFIER ("LEI") BY "PROFESSIONALS OF THE INSURANCE SECTOR" ("CIRCULAR 22/19"), ENCOURAGING INSURANCE SECTOR PROFESSIONALS TO COMPLY WITH THE OBLIGATIONS RELATING TO USE OF LEI CODES
Circular 22/19 follows-up CAA Circular Letter 22/13 on EIOPA's revised Guidelines on use of the LEI by insurance and reinsurance intermediaries and ancillary insurance intermediaries ("Circular 22/13") and CAA Circular Letter 14/11 on use of the LEI ("Circular 14/11")
1. Entities affected
Circular 22/19 specifically targets legal persons referred to in Articles 264, 265, 266, 267, 268, 269, 270 and 271 of the amended law of 7 December 2015 on the financial sector ("PSA")
2. Key requirements
PSA are encouraged to:
- Take all necessary steps to obtain a LEI code.
- Communicate the code to the CAA.
- Use the code in all information exchanges made via SOFie/E-file.
According to Circular 22/19, LEI codes are allocated by a local operating unit ("LOU"). The list of current LOUs is available on the website of the Global Legal Entity Identifier Foundation_
3. Timeline
Circular 22/19 states that PSA should request allocation of a LEI code by 31 December 2022 at the latest.
Feel free to contact our experts to help you with the LEI code allocation or if you need any other assistance.