Chapter 9 Legal Risk in the Securities Settlement System
Author:
International Monetary Fund
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Language:
English
Print Publication Date:
26 Aug 1999
Keywords:
SEM; bank; central bank; bank regulator; certificate; consumer; bank supervisor; securities entitlement; e-money product; securities certificate; Securities; Government securities; Currencies; Capital flows; Global; East Asia; Europe; Western Europe; Middle East; transfer system; securities intermediary; securities account; modernization project; securities settlement reform; Legal support in revenue administration; Securities regulation; Central securities depositories; Securities settlement systems; investment securities

Abstract

Around the globe, participants in the securities markets, securities market regulators, and central bank authorities are becoming increasingly aware of the need for modernization of commercial law to take account of the development of the system of securities holding through multiple tiers of intermediaries. In the United States, this concern led to a complete revision of the portion of the U.S. Commercial Code (Article 8 of the Uniform Commercial Code) that governs transfer and pledge securities.

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Cover Current Developments in Monetary and Financial Law, Vol. 1
Current Developments in Monetary and Financial Law, Vol. 1
ISBN:
9781557757968
Publication Date:
26 Aug 1999
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557757968.072
Pages:
656