generated from coulomb/repo-seed
tegwick
08361f6fb7
Add commercial-identity-nuance-settlement.md resolving control_basis, binding_trigger, cross-registry Synonymity strengths, OPI branch modeling, escrow commitment type, reputation portability, payment edge cases, CRM renewal rules, Person Account adapters, and eIDAS wallet scope. Update canon, OpenQuestions, and all commercial-identity source notes.
95 lines
3.9 KiB
Markdown
95 lines
3.9 KiB
Markdown
# LEI and GLEIF Legal Entity Identifier
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## Source Type
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Standard and registry. ISO 17442 Legal Entity Identifier; GLEIF global LEI index.
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## Domain
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Regulated financial markets, legal entity identification, and ownership transparency.
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## Why This Source Matters
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LEI is the post-2008-crisis global standard for identifying **legal entities** in
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financial transactions. It encodes **who** and **who owns whom**, making it a
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canonical example of commercially binding identity with regulatory renewal
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requirements.
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## Key Concepts
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- **LEI**: 20-character ISO 17442 identifier for a legal entity.
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- **Legal entity (LEI scope)**: organization participating in financial transactions;
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individuals cannot obtain LEI.
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- **GLEIF**: Global Legal Entity Identifier Foundation; oversees LOUs and data quality.
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- **LOU (Local Operating Unit)**: issuer/registrar for LEIs in a jurisdiction.
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- **Level 1 data**: business card data — legal name, address, jurisdiction.
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- **Level 2 data**: ownership — direct and ultimate parent relationships.
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- **Renewal**: LEI valid one year; annual renewal required for continued use.
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- **Regulatory mandate**: 45+ jurisdictions require LEI for certain financial reporting.
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## Relevant Terminology
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| Term | Source meaning |
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| --- | --- |
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| LEI | Legal Entity Identifier code. |
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| Legal entity | Juridical person in financial markets. |
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| Level 1 | Entity reference data. |
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| Level 2 | Parent/ownership reference data. |
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| GLEIF | Global LEI system operator. |
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| LOU | Local issuing organization. |
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| Renewal | Annual reaffirmation of LEI validity. |
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| Regulator reporting | MiFIR, derivatives reporting, etc. |
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## Modeling Assumptions
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- **LEI identifies legal entities only**, not natural persons or login accounts.
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- **Ownership is first-class** in LEI Level 2 (parent chains).
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- **Identity persistence is maintained by renewal**, not immutability of business facts.
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- **Public global directory** enables counterparty verification.
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- **LEI does not prove good behavior**; it proves identifiable legal presence.
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- **One LEI per legal entity** for global financial identification.
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## Identity-Canon Implications
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- LEI maps to **Registry Identifier** (`scheme: 0199`, `authority_class:
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regulatory_global`, `renewal_required: true`) for **Legal Entity** /
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**Organization** actors.
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- Level 2 parent data maps to **Ownership** or structural Organization relationships.
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- LEI record maps to **Commercial Record** or authoritative **Identity Record**
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with registry **Evidence Source**.
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- Renewal maps to **Lifecycle State** on Identifier/Commercial Record.
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- LEI exemplifies **commercial binding**: regulatory participation requires stable,
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renewed legal identity.
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- Distinct from DUNS (credit/commerce) and from OIDC sub (authentication).
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## Terminology Conflicts
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- **Legal entity (LEI)** vs. **Legal Entity (canon)**: aligned when jurisdictionally recognized.
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- **Legal entity** vs. **Organization**: not every organization has LEI; LEI subset is regulated finance participants.
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- **LEI** vs. **company registration number**: national registry ID vs. global LEI.
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## Candidate Canonical Mappings
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| LEI concept | Candidate canonical concept |
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| --- | --- |
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| LEI code | Registry Identifier (regulatory_global, ICD 0199) |
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| Legal entity | Legal Entity / Organization |
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| Level 1 data | Commercial Record / registry Profile |
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| Level 2 parent | Ownership Relationship |
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| GLEIF registry | Evidence Source (authoritative) |
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| Annual renewal | Lifecycle State maintenance |
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| LOU issuance | Issuer Scope + Trust Relationship |
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## Open Questions
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*(none — settled in `commercial-identity-nuance-settlement.md`)*
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## Settled
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- Registry Identifier subtype; LEI↔company reg **strong**; LEI↔DUNS **medium**.
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## References
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- ISO 17442 — https://www.iso.org/standard/78829.html
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- GLEIF, Introducing the LEI — https://www.gleif.org/en/about-lei/introducing-the-legal-entity-identifier-lei
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- Wikipedia, Legal Entity Identifier — https://en.wikipedia.org/wiki/Legal_Entity_Identifier |