scope:

The purpose of the standard is to identify the legal entities in a financial transaction. ISO 17442 specifies the elements of an unambiguous Legal Entity Identifier scheme. Because of its strong rationalization effect, a unique identification scheme substantially supports and facilitates the financial industry business. Investment vehicles, including Mutual Funds and Alternative Investment vehicles (Hedge Funds, Private Equities, etc.) will also be identified by means of an LEI regardless of whether they are incorporated or constituted in some other way (e.g., trust, partnership, contractual, etc.).. The LEI is designed for automated processing. It may also be conveniently used in other media interchange when appropriate (e.g. paper document exchange).