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Intermediated Securities (eBook)

Legal Problems and Practical Issues
Verlag: Bloomsbury UK
ISBN: 978-1-84731-801-5
GTIN: 9781847318015
Einband: Adobe Digital Editions
Verfügbarkeit: Download, sofort verfügbar (Link per E-Mail)
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Globally, there has been a shift from securities being held directly by an investor, to a situation in which many securities are held via an intermediary. The existence of one or more intermediaries between the investor and the issuer has a potentially significant impact on the rights of the investor, the role and obligations of the issuer, and on the position and responsibilities of the intermediary. However, different jurisdictions have dealt with the issues arising from intermediation in a variety of ways. In the UK, for example, the concept of a trust is used to explain the different rights and obligations which arise in this scenario, whereas in the US the issues have been addressed by legislation, in the form of UCC Article 8. This variety is problematic, given that it is possible for an investor to hold securities in a number of different jurisdictions. A new UNIDROIT Convention on the issue of Intermediated Securities, the Geneva Securities Convention 2009, aims to create a common framework for dealing with these issues. This collection of essays explores the issues that arise when securities are held via an intermediary, and in particular assesses the solutions put forward by the new Convention on this issue. It will be essential reading for practitioners and academics.

Globally, there has been a shift from securities being held directly by an investor, to a situation in which many securities are held via an intermediary. The existence of one or more intermediaries between the investor and the issuer has a potentially significant impact on the rights of the investor, the role and obligations of the issuer, and on the position and responsibilities of the intermediary. However, different jurisdictions have dealt with the issues arising from intermediation in a variety of ways. In the UK, for example, the concept of a trust is used to explain the different rights and obligations which arise in this scenario, whereas in the US the issues have been addressed by legislation, in the form of UCC Article 8. This variety is problematic, given that it is possible for an investor to hold securities in a number of different jurisdictions. A new UNIDROIT Convention on the issue of Intermediated Securities, the Geneva Securities Convention 2009, aims to create a common framework for dealing with these issues. This collection of essays explores the issues that arise when securities are held via an intermediary, and in particular assesses the solutions put forward by the new Convention on this issue. It will be essential reading for practitioners and academics.

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AutorGullifer, Louise (Hrsg.) / Payne, Jennifer (Hrsg.)
VerlagBloomsbury UK
EinbandAdobe Digital Editions
Erscheinungsjahr2010
Seitenangabe294 S.
AusgabekennzeichenEnglisch
Masse563 KB
Auflage10001 A. 1. Auflage
PlattformEPUB
Verlagsartikelnummer264696
ISBN978-1-84731-801-5

Über den Autor Louise (Hrsg.) Gullifer

Louise Gullifer is Rouse Ball Professor of English Law at the University of Cambridge.Dora Neo is Associate Professor and the founding Director of the Centre for Banking & Finance Law at the Faculty of Law, National University of Singapore.

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