Bearer shares – A new initiative to help our clients comply with the new regulation!
Back to news list Bearer shares – A new initiative to help our clients comply with the new regulation!
Since the entry into force of a new Law in August 2014, every unit or share issued, or to be issued, in bearer form, by a Luxembourg company, including investment funds, must be deposited and immobilised with a professional depositary.
To comply with the legislation, the funds need to appoint a depositary of the bearer shares/units register before the 18/02/2015, failing which the rights for these shares/units will be suspended.
To enable our clients to respond to this regulatory deadline within the short timeline, EFA developed its new services as Depositary of Bearer Shares.
In this context, EFA processes the immobilisation and maintains the register of holders of bearer shares in a segregated set-up, while offering the advantage of integrating all required processes with the order processes of the Transfer Agency of the fund.
Should you need more information, please do not hesitate to contact your Client Relationship Manager or our Product Development Team.
Nicolas Guet
Product Development Manager
+352 48 48 80 423