Further to my November 29 post regarding President Obama’s ratification of the Convention of 05 July 2006 on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary (the Hague Securities Convention)…
The Hague Conference’s Permanent Bureau announced yesterday that the United States has deposited the official ratification instrument for the treaty with the Dutch Foreign Ministry. The Bureau’s release can be found here.
Our ratification triggers the treaty’s entry into force on April 1, 2017. Sure, the only other two countries to sign on thus far are Switzerland and Mauritius, but with the U.S. coming on board, the Hague Conference expects many more in rapid succession.
More will follow on the treaty’s implications and implementation as details are released by the State Department.
I first learned of the treaty’s imminent ratification during my visit to the Permanent Bureau last month.
Our group (lawyers from Missouri and Kansas) was very warmly welcomed by the Secretary General, Dr. Christophe Bernasconi, and his two legal officers, Mayela Celis and Brody Warren. Incredibly gracious people, who know the Hague Conventions better than anyone. Of course, it’s their job, but they do it spectacularly well.