Share Data > Case Study > The Case of U.S. Securities
The Case of U.S. Securities

The client came to Share Data needing assistance to sell two of the estate’s shareholdings in AbbVie Inc and Abbott Laboratories, both U.S. listed securities.

The AbbVie Inc shares were held electronically and the Abbott Laboratories shares were held in a certificated format.

We provided all of the forms required to send to the transfer agent and completed as much as possible while advising our client on how to complete the remainder. One form that was required was a W8-BEN. By registering this form on the new holder’s account, it meant a reduced amount of tax was deducted from dividends as the United Kingdom has a tax treaty with the U.S. Medallion stamped transfer forms were also required. Share Data is a member of STAMP and as such we are registered to provide this and do not need to go to outside sources.

We set up an account with our Stockbroker to enable the shares, once transferred, to be either held in an account with them or sold immediately. We requested the transfer agents for the certificated shares to be held electronically by the new shareholder. If the shares are held on a certificate, they would need to be dematerialised (put into an electronic holding). This can take up to 8 weeks and a charge would be made by the Stockbrokers as they cannot be sold in this format.

In this case, our client requested that the shares were sold and the proceeds paid into the solicitor account. Individuals, with their own shares, may want to open an account with the Stockbrokers and the dividends would then be collected and paid into an account of their choice, in sterling. The shares can also be sold very easily, usually with just a phone call.

Slide I have been extremely impressed with the service received and won't hesitate to both use and recommend share data's services in the future. Jennifer B, David Auld & Co Solicitors

16th August 2019

Slide My firm have used share data for their medallion guarantee services for foreign shareholders since the beginning of 2018 – each occasion has been efficient and successful which leads to happy clients. I would strongly recommend their services, with a special mention for teresa – who is friendly, helpful and gets the job done. Asset Manager

23rd August 2018

Slide Share Data's service is brilliant. Currently, sorting another one for you! Deanne Taylor, Smalleys Solicitors Ltd

8th November 2019

Slide Thank you for processing our Medallion Guarantee and for all of your assistance leading up to it. Share Data have a great service. Walker Crips Investment Management

6th August 2020

Slide I wish everyone was as quick and easy to deal with as you have been. It is truly a pleasure and a great contrast to most other financial service companies in Canada and New Zealand that I have dealt with in the past. Private Individual

26th November 2019