- Bank resolution and insolvency — Geneva Securities Convention — Intermediated securities
This chapter focuses on the principles relating to the insolvency law and intermediated securities, including those reflected by the Geneva Securities Convention (GSC) and the Legislative Guide. It considers various examples of the treatment of issues under current laws, drawing on the UK and US law. It also identifies the most significant issues involving intermediated securities in the context of insolvency, which arise in insolvency proceedings and in the contemplation of potential future proceedings. The chapter offers suggestions for how States might address issues in insolvency in their domestic laws, providing a roadmap for the improvement of the relevant legal regimes. It reviews some perspectives on how ongoing and future developments in technology in relation to the financial markets may affect the holding of securities in the future.
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