MiFID II: What happens after July 3 if an issuer doesn’t have an LEI?

MiFID II’s “No LEI, No trade” policy, and the six months relief from this obligation that ESMA had to issue in December, have been widely discussed. Somewhat neglected, however, is the requirement for issuers of financial instruments that are admitted to trade on an EU trading venue (TOTV) to have an LEI.