transcript   Transcript

Getting Ready for the Hague Securities Convention

Recorded on: Jan. 24, 2017
Running Time: 01:04:55

Full Transcript:

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Taken from the briefing Getting Ready for the Hague Securities Convention recorded January, 2017 in New York.

This Briefing will focus on the Hague Securities Convention expected to become effective in the United States on April 1, 2017. The Convention contains choice of law rules for intermediated securities that will preempt the choice of law rules for intermediated securities in Articles 8 and 9 of the Uniform Commercial Code. Sandra M. Rocks of Cleary Gottlieb Steen & Hamilton LLP was an industry observer to the Convention, and Edwin E. Smith of Morgan, Lewis & Bockius LLP assisted in the U.S. ratification process. 

Lecture Topics  [01:04:55]

Listen to them as they discuss what you need to know about the Convention, including:

  • What current choice of law risks facing securities customers, banks, brokers, clearing corporations and third-party lenders in the securities indirect holding system is the Hague Securities Convention intended to address
  • How the choice of law rules of the Convention resolve those risks
  • How the choice of law rules of the Convention may in some circumstances differ from those under Articles 8 and 9 of the Uniform Commercial Code
  • Under what circumstances it would be prudent for new clauses to be inserted into securities account agreements and securities account control agreements
  • What transition issues can finance counsel expect to face when the Convention becomes effective in the U.S. and how to prepare

Presentation Material

  • The Hague Securities Convention
    Sandra M. Rocks, Edwin E. Smith
Sandra M Rocks ~ Cleary Gottlieb Steen & Hamilton LLP
Edwin E Smith ~ Morgan, Lewis & Bockius LLP
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