An LEI search is an essential process for verifying the identity and status of a business operating in global financial markets. As regulatory compliance and transparency become more important, organizations, banks, and counterparties increasingly rely on LEI search to confirm whether a legal entity is properly identified and active.
This guide explains what an LEI search is, why it matters, and how you can perform it accurately and efficiently.
What Is LEI Search?
LEI search refers to the process of looking up a Legal Entity Identifier (LEI) to access verified information about a registered organization. An LEI is a unique 20-character alphanumeric code assigned to legal entities participating in financial transactions.
By conducting an LEI search, users can view key details such as the entity’s name, registration status, and validity of the LEI. This process helps ensure that businesses involved in transactions are genuine, identifiable, and compliant with global standards.
Why Is LEI Search Important?
LEI search plays a crucial role in risk management and due diligence. It allows financial institutions, corporates, and service providers to validate business identities before entering into financial relationships.
Key reasons why LEI search is important include:
Verifying the authenticity of a legal entity
Reducing fraud and counterparty risk
Supporting compliance and internal checks
Improving transparency in financial dealings
Assisting with onboarding and KYC processes
For businesses, performing an LEI search also helps confirm whether their own LEI is active and up to date.
Who Uses LEI Search?
LEI search is widely used across multiple industries and stakeholders, including:
Banks and financial institutions
Corporates involved in cross-border transactions
Investors and analysts
Compliance and risk teams
Due diligence and audit professionals
Any organization that needs reliable business identification data can benefit from regular LEI search activities.
What Information Can You Find Through an LEI Search?
A standard LEI search provides access to structured and verified entity information. Common details include:
Legal name of the entity
LEI code status (active, lapsed, or inactive)
Registration and renewal dates
Entity type and structure
Relationship data, where available
This information helps users make informed decisions with confidence.
How To Do an LEI Search: Step-by-Step
Performing an LEI search is a straightforward process when done correctly. Below is a simple step-by-step approach:
Step 1: Identify the LEI or Entity Name
You can perform an LEI search using either the 20-character LEI code or the registered name of the organization.
Step 2: Use a Reliable LEI Search Platform
Choose a trusted LEI service provider or business information platform that offers accurate and updated LEI data. Avoid relying on unverified sources.
Step 3: Enter Search Details
Input the LEI code or entity name into the search bar. Ensure spelling accuracy when searching by name to get precise results.
Step 4: Review Entity Information
Carefully analyze the search results, including LEI status and validity dates. This step is critical for compliance and risk checks.
Step 5: Save or Verify for Records
Download or document the LEI details for internal records, onboarding, or due diligence purposes.
Professional service providers like MNS Credit Management Group often support businesses with LEI search, verification, and related compliance needs.
Common Mistakes to Avoid During LEI Search
While LEI search is simple, errors can reduce its effectiveness. Common mistakes include:
Using outdated or unofficial platforms
Ignoring LEI status and expiry dates
Relying only on entity name without cross-verification
Not rechecking LEI details during renewals or audits
Avoiding these mistakes ensures accurate and reliable results.
Benefits of Regular LEI Search for Businesses
Conducting regular LEI search offers long-term advantages, such as:
Stronger compliance readiness
Faster onboarding and transaction approvals
Reduced operational and financial risks
Improved trust with partners and clients
For growing businesses, LEI search becomes an integral part of governance and risk management frameworks.
LEI Search vs LEI Registration
It is important to understand that LEI search and LEI registration are different but connected processes. LEI search helps verify existing LEI details, while LEI registration involves applying for or renewing an LEI.
Businesses should perform an LEI search before registration to check whether an LEI already exists for their entity, preventing duplication and delays.
Conclusion
LEI search is a vital tool for verifying legal entity information in today’s transparent and compliance-driven business environment. By understanding what an LEI search is and how to perform it correctly, organizations can reduce risk, enhance trust, and ensure smoother financial operations.
Whether for due diligence, onboarding, or internal verification, a structured LEI search process supports informed and confident business decisions.
