Regulatory Alerts2020-10-14
Added · Updated
Directive on Registration and Delivery of Shares in Client Names
Securities Dealing Firms are ordered to register all shares under nominees in the names of respective owners and deliver them to clients. If physical delivery is not possible, shares must be transferred to a licensed custodian within 60 days of receiving the directive. Firms are prohibited from holding shares for more than 30 days after this 60-day notice period expires unless they apply for and obtain a custodian licence.
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