Company information in the registry
From 1 January 2021, new requirements for company data will be set in the Union Registry.
The Registry Regulation (EU) 2019/1122 contains amendments to the requirements that must be submitted and possibly updated in the Union Registry. From 1 January 2021, the account holder will need to enter this additional information. The requirement applies both to new applications and existing accounts.
During the fourth phase (2021-2030), the necessary amendments have also been made to the Registry Regulation to meet the requirements regarding monitoring under MiFID II, MiFIR and MAR.
LEI Code
If a LEI code (Legal Entity Identifier) exists, it needs to be entered in the Union Registry. This is a requirement regardless of account type. All companies that trade with financial instruments must have a LEI code.
In order to adapt the information in the Union Registry to the needs of market surveillance and monitoring, account holders must identify their activities with the LEI. According to Article 26 of the MiFIR, data on transactions in financial instruments should be reported to the competent authorities so that they can detect and investigate potential cases of market abuse. The information must be entered in the Union Registry. Operators which trade with allowances for their compliance only are exempt from obtaining the LEI code.
This means that all legal entities that buy / sell securities in the European financial markets must have a LEI code.
The LEI code is an alphanumeric global identification code consisting of 20 characters and registration of the LEI code takes place with an authorised issuer.
LEI code must be entered in the Union Registry. The Swedish Energy Agency has already added a LEI code for certain trading accounts. Please check that this information is correct in the Union Registry.
In the Union Registry, the information on the LEI code must be entered for the account holder under the tab "Account Main". When you update the LEI code field, it is sent to a national administrator for approval.
When you enter or change the LEI code on an account, this is applied to all the account holder's accounts.
In the event of a new account application or when updating information during an audit, the LEI code needs to be stated on the submitted form.
LEI code needs to be stated for all account types in the Registry.
Note that the LEI code is indicated by a hyphen in the Union Registry (eg XXXX-XXXXXXXXXXXXXX-XX).
You can read more about LEI code and do LEI search on the GLEIF website.
Parents and subsidiaries
Account holders for operator and aircraft operator holding accounts need to update information regarding financial grouping of the company. This means that information about any parent companies and subsidiaries needs to be entered in the Union Registry. Parent and subsidiary are the names for companies that can be part of the same group. Subsidiary is a company that is controlled by another parent company. The superordinate company is then called the parent company.
The information on parent companies and subsidiaries can be found in the company’s consolidated financial statement, which is a special annual report prepared by a parent company in addition to its usual annual report. The consolidated financial statements cover the parent company and all its subsidiaries and describe their financial position as if they were a single economic entity.
In the Union Registry, the information on parent companies and subsidiaries must be entered under the tab "Installation" for the respective operator’s account.
On the "Installation" tab: If the company is already existing in the Union Registry, you need to search for it by clicking on the magnifying glass, and then selecting it from the list. Note that the search function is case sensitive. You need to enter the company name exactly as it is specified in the system.
In the event of a new account application or when updating information during an audit, the operator’s and aircraft operator’s holding account needs to provide this information on the submitted form.
The information does not need to be stated for trading accounts and person holding accounts under the Kyoto Protocol.
Read more about parent and subsidiary companies:
Beneficial owners
A beneficial owner is the person or persons who ultimately own or control, for example, a company or an association. A beneficial owner can also be the person or persons who benefit from someone else acting for them.
On 1 August 2017, a judicial act concerning the registration of beneficial owners came into force in Sweden and the beneficial owners are now reported to the Swedish Companies Registration Office.
The purpose of the Registry is for example that banks and the Swedish financial police should be able to find out who is acting behind a company. The information on beneficial owners contribute to combating money laundering and terrorist financing.
This information shall not be entered in the Union Registry.
In the event of a new account application or when updating information during an audit, this information needs to be stated on the submitted form.
The information needs to be provided for legal entities that open a trading account. They need to provide the name, date of birth and citizenship of the legal person’s beneficial owner.
Legal persons applying for an operator holding account may need to provide additional information about the legal person’s beneficial owner.
Read more about beneficial owners:
EPRTR-code
If an operator has been assigned an EPRTR code (European Pollutant Release and Transfer Register), this information needs to be submitted to the Swedish Energy Agency and entered in the Union Registry.
The code is defined by the main activity or activities that are conducted. The installations that have an EPRTR code are registered in the EPRTR register, which contains environmental data for approximately 28,000 industrial installations in the EU, Iceland, Liechtenstein, Norway, Serbia and Switzerland.
The Swedish register containing EPRTR codes is called the PRTR register. The codes are identical regardless of whether the term PRTR or EPRTR is used.
Not all facilities have an EPRTR code. In this case, the field can be left blank. In the Union Registry, the information on the EPRTR code must be entered under the tab "Installation" for each operator holding account.
The information shall not be provided for aircraft operator holding accounts, trading accounts or person holding accounts under the Kyoto Protocol.
The EPRTR code for an installation can be found in the Swedish environmental reporting portal (Svenska miljörapporteringsportalen, SMP), where the code corresponds to the installation number / InspireID assigned to a facility.
The Swedish environmental reporting portal (Information in Swedish)
