LEI codes and parent entities

When you are applying for an LEI code, activating your LEI or updating its details, the LEI service asks you whether you will disclose the details of your direct and ultimate parent entities.

The crucial point is whether the parent entity has an obligation to prepare consolidated financial statements. If the parent entity has an obligation to prepare consolidated financial statements, the LEI applicant or owner must disclose the details of the parent entity or give a reason for not doing so.
The direct parent entity may be the same as the ultimate parent entity.

See our instructions on how to file parent entity details or to indicate that there are no details.

Provisions on the obligation of a Finnish company or entity to prepare consolidated financial statements are laid down in chapter 6, section 1 of the Finnish Accounting Act. Read more in the reference database of Finnish legislation Finlex (PDF).Open link in a new tab

For more information about accounting and parent entities, consult accounting professionals or see chapter 1, section 6 of the Finnish Accounting Act. Read more in the reference database of Finnish legislation Finlex (PDF).Open link in a new tab

Other countries have their own legislation and provisions on the obligation of a parent entity to prepare consolidated financial statements.