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Article 9 Reporting LEI changes and update of identification code to LEI

  1. 11. Where the counterparty identified pursuant to Article 4 in a derivative report undergoes a corporate restructuring event resulting in a change of its LEI, that counterparty or the counterparty to which the new LEI pertains, or the entity responsible for reporting on behalf of either of those counterparties pursuant to Article 9(1a) to (1d) of Regulation (EU) No 648/2012, or the entity to which either of the counterparties delegated the reporting pursuant to Article 9(1f) of Regulation (EU) No 648/2012, shall notify the trade repository to which the counterparty that underwent a corporate restructuring event reported its derivatives about the change and request an update of the LEI in the derivatives concerned referred to in points (a) and (b) of Article 3(2) at the date of the corporate restructuring event resulting in a change of LEI or contracts reported after that date.

  2. 12. Where possible, the request to update the identifier in the derivatives referred to in the points (a) and (b) of Article 3(2) shall be made at least 30 calendar days prior to the corporate restructuring event resulting in a change of LEI. In case the entity referred to in paragraph 1 cannot provide this information to the trade repository 30 calendar days prior to the corporate restructuring event resulting in a change of LEI, it shall notify the trade repository as soon as possible.

  3. 13. The request referred to in paragraph 1 shall contain at least the following:

    1. (a) the LEI of each of the entities participating in the corporate restructuring event;

    2. (b) the LEI of the new counterparty;

    3. (c) the date on which the change of LEI will take place or has taken place;

    4. (d) the unique trade identifiers of the derivatives concerned in case where the corporate restructuring event affects only a subset of derivatives referred to in the points (a) and (b) of Article 3(2);

    5. (e) evidence that the corporate restructuring event has taken or will take place, subject to the provisions under Article 17 of Regulation (EU) 596/2014.

  4. 14. When a counterparty notifies by mistake a trade repository about a change in its LEI, it shall follow the procedure to request update of its LEI in accordance with paragraphs 1, 2 and 3.

  5. 15. Where a counterparty previously identified with an identifier other than an LEI obtains an LEI, the procedures under paragraphs 1, 2 and 3 apply.

  6. 16. Where a change in LEI concerns a counterparty established in a third country, its reporting counterparty established in the UK or the entity responsible for reporting pursuant to Article 9(1a) to (1d) of Regulation (EU) No 648/2012 or the entity to which the reporting counterparty established in the UK delegated the reporting shall initiate the procedure under paragraphs 1, 2and 3.

  7. 17. Where a counterparty established in a third country previously identified with identifier other than an LEI obtains an LEI, each reporting counterparty established in the UK affected by this change or the entity responsible for reporting pursuant to Article 9(1a) to (1d) of Regulation (EU) No 648/2012 or the entity to which the reporting counterparty established in the UK delegated the reporting shall request the update of the identifier of the non-UK counterparty to its respective trade repository.

  8. 18. Where the change in LEI concerns an entity referred to in points (a), (b), (c), (e) or (g) of Article 4(1), that is not a counterparty to the derivative, counterparty 1 or the entity responsible for reporting shall confirm to the trade repository the unique trade identifiers of the derivatives concerned referred to in the points (a) and (b) of Article 3(2). Where counterparty 1 and the entity responsible for reporting do not confirm to the trade repository the unique trade identifiers of the derivatives referred to in the points (a) and (b) of Article 3(2) concerned by the change in LEI the counterparty 1 or the entity responsible for reporting shall update the LEI of the concerned entity in all reports pertaining to the derivatives concerned referred to in the points (a) and (b) of Article 3(2) by sending a report with action type ‘Modify’.