No transactions without a LEI
According to the new rules, Jyske Bank is not allowed to execute transactions for legal entities whose LEI has not been registered with Jyske Bank. The demand for a LEI applies to the decision-maker as well as the custody-account holder.
Which clients are affected?
The LEI requirement applies to all corporate clients, public-sector clients, and quasi-corporate associations wanting to trade in financial instruments, but not private individuals. Nor do they apply to sole proprietorships which exclusively trade in securities. However, trading in OTC derivatives still requires an LEI.
The demand for a LEI applies to legal entities wanting to execute transactions and for whom transactions are executed.
Financial instruments cover a wide range of instruments including shares, bonds, derivatives etc. The main rule is that all financial instruments traded in a regulated market place are comprised. The market place may be situated all over the world and includes, among others, execution venues in the EU, EEA, USA, Japan, China and Brazil.
Two of the investment solutions through Jyske Bank are not comprised by the rules on LEIs:
- Jyske Investering
- Jyske Private Banking Investering
Drawdown, redemption and refinancing of mortgage credit loans with the Jyske Bank Group being in charge of buying and selling the bonds on behalf of the client are not comprised.