DORA reporting: the LEI code is not optional

DORA RoI: the LEI code is not optional

Under DORA service providers that take the form of a legal entity must be identified using either the European Unique Identifier (EUID) or the Legal Entity Identifier (LEI). For non-EU third party ICT-service providers this entails that the financial institution must provide a LEI code – even though many such providers do not currently have one.

Recent supervisory guidance ahead of the upcoming DORA reporting cycle leaves little room for interpretation: if a non-EU third party ICT-service provider does not have a LEI, institutions are expected to urge them to obtain one. And if a provider is unwilling to do so, it raises an uncomfortable but important question: How committed are your service providers to supporting your regulatory compliance?

This is where tooling makes the difference. With Complissimo’s TPRM module, the presence (and importance) of an LEI is:

• Automatically scanned and flagged in the pre-contractual phase
• Identified early, when you still have leverage to require compliance
• Prevented from becoming a last-minute reporting blocker

And to remove friction entirely, Complissimo integrates directly with the GLEIF database. Simply type the third party’s name and the LEI is auto-filled into your TPRM and the DORA Register of Information, ensuring continuous audit-readiness:

•  No manual searches
•  No copy-paste errors (a space before or after the LEI that is copied into the register of information returns a reporting error)
•  No time wasted

If you want to strengthen your DORA compliance while reducing time and cost, it starts with having the right controls before contracts are signed.

👉 Learn more about how Complissimo supports DORA-ready TPRM: https://www.complissimo.com/contact/