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_
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.
Read our Newsflash about Circular 22/13 here_