Is it mandatory to obtain and validate the LEI of the non-resident counterparty as well? Does the stipulation of reporting LEI for all transactions of an entity, irrespective of transaction size, once the entity has obtained an LEI number apply for non-residents as well?
Introduction of Legal Entity Identifier for Cross-border Transactions - As on Feb 07, 2023
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Legal Entity Identifier requirement may extend to nonresident counterparties; AD banks must follow circular guidance for reporting. Requirement to obtain and validate the Legal Entity Identifier (LEI) for non resident counterparties is to be addressed by authorised dealer banks, which should follow the instructions in paragraph 2 of the circular to determine whether and how the LEI of an overseas counterparty must be captured and reported.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Legal Entity Identifier requirement may extend to nonresident counterparties; AD banks must follow circular guidance for reporting.
Requirement to obtain and validate the Legal Entity Identifier (LEI) for non resident counterparties is to be addressed by authorised dealer banks, which should follow the instructions in paragraph 2 of the circular to determine whether and how the LEI of an overseas counterparty must be captured and reported.
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