Regulation 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties ( CCPs ) and trade repositories (EMIR ) requires entities subject to release to trade repositories authorized by ESMA ( Trade Repositories ) , the operations performed on OTC contracts and identify counterparts of the contract , whether financial or not.
    Among those forced to declare financial counterparties are both ESI , such as banks , the insurance , UCITS funds and their management companies and pension funds , subject to certain transitional exemptions and alternative investment funds .

According to Article 9 of EMIR , the reporting obligation of contracts shall enter into force on 12 February 2014.
To facilitate communication of the parties to the contract , has agreed to adopt a globally unique code called LEI ( Legal Entity Identifier)
The issuance of these codes is going to take a different body in each country (called LOU – Local Operating Units – ) . In Spain this function is assumed by the Companies Registry ( second additional provision of Royal Decree Law 14/ 2013) that on January 28, 2014 , has activated its website the rules for processing the application of that code LEI .

The procedure set requires completing the form found on the following website :
The submission form can be done either by printing or telematics , completion and presentation of paper in the office responsible for the management of code LEI Companies Register.

We are at your disposal to answer any questions about this obligation will arise .

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