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LEI & Discretionary trust & share dealing

Discuss Brokers, trading, fees, experiences
Laughton
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Re: LEI & Discretionary trust & share dealing

#248857

Postby Laughton » September 3rd, 2019, 10:09 am

For those interested, I've just received an email reminder from LSE that my LEI renewal is due shortly so I thought I'd check if there were cheaper alternatives and found this: -

https://rapidlei.com/uk-lei/?gclid=CjwK ... jYQAvD_BwE

Seems that I have to transfer existing LEI to them (for free) but then renewal is only £30 for one year rather than £65 that LSE charge.

I thought I'd check here first to see if anyone has found an even cheaper alternative or that regulations have changed and that a SSAS (pension scheme) is not required to have an LEI.

Parky
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Re: LEI & Discretionary trust & share dealing

#249009

Postby Parky » September 3rd, 2019, 6:55 pm

Laughton wrote:For those interested, I've just received an email reminder from LSE that my LEI renewal is due shortly so I thought I'd check if there were cheaper alternatives and found this: -

https://rapidlei.com/uk-lei/?gclid=CjwK ... jYQAvD_BwE

Seems that I have to transfer existing LEI to them (for free) but then renewal is only £30 for one year rather than £65 that LSE charge.

I thought I'd check here first to see if anyone has found an even cheaper alternative or that regulations have changed and that a SSAS (pension scheme) is not required to have an LEI.


The lapsing of an LEI does not make it invalid. Strictly speaking, I understand that you only need to renew it if the original information changes. I have not updated my LEI for a Trust share dealing account, and am still able to trade. Of course, if your SSAS provider requests you to renew, it's probably less hassle to do so rather than argue the toss with them.


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