20 January 2015
We are at a critical juncture on the journey towards paperless share ownership
The EU regulation on Central Securities Depositories (CSDR) adopted in September 2014 stipulates that full market dematerialisation of transferable securities (including shares) must be implemented across the EU by 2023. This essentially means that the role of paper certificates as prima facie evidence of title will be relegated to history for publicly traded securities, with ownership recorded and evidenced purely in electronic form.
With the regulation now formalised, the debate is...