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A [[Securities|security]] in “[[Registered security|registered]]” form, is one whose ownership is determined by entry in the official share register, rather than by mere possession the instrument (which is called a “[[bearer instrument]]”)<ref>For a lawyer this is elemental stuff; one of the great bifurcations of the financial markets</ref>. A registered share certificate is only evidence of ownership, but it can be trumped by what it says on the actual register. | {{g}}A [[Securities|security]] in “[[Registered security|registered]]” form, is one whose ownership is determined by entry in the official share register, rather than by mere possession the instrument (which is called a “[[bearer instrument]]”)<ref>For a lawyer this is elemental stuff; one of the great bifurcations of the financial markets</ref>. A registered share certificate is only evidence of ownership, but it can be trumped by what it says on the actual register. | ||
[[Shares]] and securities conferring beneficial ownership of their issuer tend to be registered, because you need to know who your owner is, right? [[Debt securities]] — whcih by their nature do not confer any ownership rights on the holder, but merely represent a [[debt]] claim against the issuer, are often in bearer form, especially outside the United States. | [[Shares]] and securities conferring beneficial ownership of their issuer tend to be registered, because you need to know who your owner is, right? [[Debt securities]] — whcih by their nature do not confer any ownership rights on the holder, but merely represent a [[debt]] claim against the issuer, are often in bearer form, especially outside the United States. |