Letters Blogatory

The Blog of International Judicial Assistance | By Ted Folkman of Folkman LLC

Posts tagged “Hague Securities Convention

Hague Securities Convention Will Soon Come Into Force

Posted on December 20, 2016

I remember receiving a gift of a few shares of stock in some large company or other when I was a kid. I received an engraved certificate with the company’s logo, my name, and a lot of legalese that at the time I couldn’t decipher. The naive thought, of course, is that the piece of paper is the share of stock. But of course, the certificate is not the thing itself—it is just evidence of the holder’s rights. And even at the time of the gift (in the late ’70s, I imagine, or the early ’80s) most shares weren’t held or traded using such certificates. Instead, they were held in the name of securities intermediaries, whose books and records reflected the underlying beneficial interests…

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