The five most common mistakes
1. Letting the LEI lapse
The single most common error. A lapsed LEI is rejected at FMDQ and the Central Securities Clearing System (CSCS) and stalls onboarding. Annual renewal with reminders prevents it.
2. Registering the wrong legal entity
The LEI must match the exact legal entity on record at the Corporate Affairs Commission (CAC) — not a trading name or a parent.
3. Not transferring an idle LEI
Holding an LEI with an unresponsive provider is risky. Transfers to TNV-LEI are free and the code never changes.
4. Treating share classes as separate
Share classes generally do not need their own LEI unless they are distinct legal entities.
5. Ignoring reference-data changes
A change of name, address or ownership must be reflected, or reconciliation breaks follow.
Key takeaways
• Renew before expiry, every time.
• Match the LEI to the exact legal entity.
• Transfer idle LEIs — it’s free.
• Keep reference data current.
