As a regulatory requirement, all businesses must have a Legal Entity Identifier (LEI) to conduct financial transactions. An active LEI is required to open and maintain an InvestEngine Business Account.
Getting Your LEI with InvestEngine
- If you don’t already have an LEI, InvestEngine will provide one free of charge for the first year.
- The LEI will be automatically applied once you have funded your account with a minimum of £100.
- If your business already has an active LEI, you would need to provide the LEI number during registration
LEI Renewal After the First Year
- From the second year onwards, you must maintain an active LEI to continue trading.
- Business account holders can choose to renew their LEI independently.
- If you are unable to renew it yourself, InvestEngine can arrange renewal on your behalf for a fee of £45. We will contact you via email before charging this amount.
If no action is taken to renew your LEI, InvestEngine one of following will happen:
Option 1:
- We will liquidate holdings before the LEI expires and no trades will be executed on the account
- If there is no response after multiple attempts to contact you, we will withdraw any remaining funds after 14 days and send them to the nominated bank account on file.
Option 2:
- If sufficient cash is available, we will deduct the £45 renewal fee from your account.
- If there is insufficient cash, we may generate the fee from your Managed portfolio or liquidate an appropriate portion of your DIY portfolio.
Option 3 (no investments on the account):
- The account may be restricted until an active LEI is provided.
For further assistance, please contact our support team.