Is it mandatory to obtain and validate the LEI of the non-resident counterparty as well? Does the stipulation of reporting LEI for all transactions of an entity, irrespective of transaction size, once the entity has obtained an LEI number apply for non-residents as well?
Is it mandatory to obtain and validate the LEI of the non-resident counterparty as well? Does the stipulation of reporting LEI for all transactions of an entity, irrespective of transaction size, once the entity has obtained an LEI number apply for non-residents as well?
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Non-resident entities must obtain an LEI and report all transactions; AD banks to follow paragraph 2 instructions.
The requirement to obtain and validate the Legal Entity Identifier (LEI) applies to non-resident counterparties in cross-border transactions. Once an entity has obtained an LEI, it must report all transactions, regardless of size. Authorized Dealer (AD) banks should follow the instructions outlined in paragraph 2 of the relevant circular for guidance on non-resident entities.
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