The transfer of intermediated securities and of the correspondent Russian law term

Abstract

The recent reform of the Russian Civil Code (hereinafter RCC) has also considerably touched the regulation of uncertificated securities. Such issues as the legal nature, the protection of a bona fide purchaser and the transfer, including the creation of security interests were precised by the legislator in the Code. As for the transfer, we may affirm that this was one of the main points of the reform in respect of those securities. What about the Swiss legislation, we can also affirm that the disposition of the intermediated securities was one of the key elements of the Federal Intermediated Securities Act, also known as FISA. In this article we intend to analyze precisely the methods of transfer applicable to intermediated securities under Swiss law and compare them with those which are governed by the modified dispositions of the RCC. In order to finalize our analysis on that subject we will also touch some points raised in the previous article. Thus, the present work will be the consequent continuation of the discussion started in my previous article.