Medallion Signature Guarantees
If you are administering an estate with shares traded on US and Canadian stock exchanges, the chances are you will need a medallion guarantee before the shares can be transferred to the beneficiaries or sold.
Title Research has now been officially granted approval to provide the Medallion Signature Guarantee stamp.
What is a medallion signature guarantee?
Tens of thousands of UK investors bought shares in high profile companies such as Cadbury Schweppes, Tyco and IBM, all of which are now listed in the USA.
Often our customers ask for help dealing with these shares, because the transfer agent (also known as a share registrar in the UK) requires the sale or transfer paperwork to have a medallion signature guarantee attached to it.
Until now, UK personal representatives were required to clear security checks in the US and obtain a medallion guarantee from America, before shares could be legally transferred to a new owner. Following a rigorous six month vetting process by US authorities, we have now been officially granted approval to provide the stamp.
What does the medallion signature guarantee do?
Medallion signature guarantees are a highly effective way of protecting against liability and fraud. Each medallion guarantee stamp has a unique barcode, and if a stamp goes missing, the missing code is registered to ensure it cannot be used fraudulently. Careful compliance checks are undertaken to help protect the shareholder and their representatives against the risk of fraud.
How can Title Research help you fast track your stock transfers in the UK?
Title Research is one of the few UK based organisations which physically hold a stamp, allowing us to fast track our existing service for share transfers, without the need for clearance by a US bank. We are now officially part of the Securities Transfer Agents Medallion Programme (STAMP) joining the ranks of major US banks. STAMP has been developed in partnership with the US Securities and Exchange Commission.
Prior to Title Research joining the programme, only US and Canadian financial institutions were granted membership of STAMP.
We can arrange the transfer and sale of American and Canadian Shares including all the associated paperwork including IRS tax clearance forms.
For further information on our medallion signature guarantee service, or to start your application now, please contact our Asset Valuation and Transfer team on +44 (0) 345 87 27 600 or for a call back, fill out our Contact us form.
You may also be interested to know that our team can assist you with the transfer or sale of overseas assets in a number of worldwide jurisdictions. For further information please see our Overseas Assets page.