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Legal and Conduct Risk in the Financial Markets, 3rd Edition by McCormick, Roger; Stears, Chris (22nd March 2018)

Part VIII Examples of Legal Risk, 26 Property Interests in Indirectly Held Investment Securities

Roger Mccormick, Chris Stears

From: Legal and Conduct Risk in the Financial Markets (3rd Edition)

Roger McCormick, Chris Stears

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 21 November 2019

Subject(s):
Geneva Securities Convention — Hague Securities Convention

This chapter discusses legal risk associated with property interests in indirectly held investment securities. It suggests that risks arise because, although there have been some recent reforms, the substantive law regarding the holding and disposal of corporate securities is still, to a significant extent, based on ‘paper’ securities rather than electronically recorded holdings. The chapter covers the Hague Convention on ‘The law applicable to certain rights in respect of securities held with an intermediary’, legal reforms around the world, the International Institute for the Unification of Private Law Convention (‘Geneva Securities Convention’), and Financial Markets Law Committee proposals.

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