MiFID_II_EN

21 Yes, MiFID II provides that banks and investment firms that trade in financial instruments must report these transactions to the compe- tent authority (in Belgium, the FSMA), no later than the end of the next business day, in order to allow supervisors to track more quickly the institutions involved in fraudulent transactions, such as insider trading or price manipulation. One of the components that a financial institution must report is the identity of the client of the transaction. For natural persons, the na- tional registry number is sufficient identification, but from now on, legal entities must have an LEI or Legal Entity Identifier : an alpha- numeric 20-character code that clearly and uniquely identifies each legal entity that is active on financial markets. Without LEI, legal entities will no longer be able to trade in financial instruments. Legal entities can obtain an LEI from an LEI provider: an organization that is authorized to do so by the Global LEI Foundation (GLEIF). At the moment, the following LEI providers are located in Belgium: | | GS1 Belgium & Luxembourg (www.mylei.be) | | Xerius (www.xerius.be/lei) Belgian legal entities may also choose to apply for an LEI with a foreign provider. An overview of all LEI providers can be found on the website of the GLEIF: https://www.gleif.org/en/about-lei/how-to-get-an-lei-find- lei-issuing-organizations. Is it true that a legal entity must have a registration number for certain financial transactions?