Now this is a problem for which we are increasingly being asked for help: How to overcome problems with selling/transferring US or Canadian stocks and shares.
Are you aware that if you:
- Hold shares in either a US or Canadian company.
- Have purchased shares from a UK company that has either:
- De-merged (i.e. Cadbury Schweppes, where holders received Cadbury and Dr Pepper Snapple shares).
- Or has been taken over (i.e. Cadbury by Kraft Foods, where holders received cash and Kraft Foods shares).
Then in order to:
- Sell the securities holding.
- Transfer the securities holding into the name of a beneficiary.
You will need to obtain a Medallion Signature Guarantee Stamp?
What is the Medallion Signature Guarantee Stamp?
The US set up the Medallion Signature Guarantee Stamp scheme to:
- Protect investors from having their signatures forged.
- Limit the liability and losses suffered by transfer agents.
- Prevent cross-border fraud.
Today there are over 7,000 US and Canadian financial institutions participating in the Medallion Guarantee Stamp Scheme.
How can you obtain a Medallion Signature Guarantee Stamp if you are in the UK?
Do not worry. If you either:
- Own US or Canadian stocks and shares and want to sell them.
- Are either a probate solicitor or an executor of an estate.
Then you can (and must) obtain a Medallion Signature Guarantee Stamp from a member of The Securities Transfer Agents Medallion Programme, otherwise known as STAMP.
Of course, you will be delighted to hear that Share Data is a member of STAMP. Our team is authorised to:
- Obtain Medallion Signature Guarantee Stamps on your behalf.
- In most cases, offer a same day turnaround of Medallion Signature Guarantee Stamps.
Here is a list of documents you will need to submit to us in order for us to obtain the Medallion Signature Guarantee Stamp on your behalf.
Please do get in touch if you have any further questions about Medallion Signature Guarantee Stamp.