TCH Submits Letter in Support of Treaty Re: Intermediary Securities Rights Stemming from 2006 Hague Securities Convention
The Clearing House (TCH) letter to Sens. Corker (R-TN) and Cardin (D-MD) expresses support for the Senate Foreign Relations Committee’s consideration and approval of the 2006 Hague Securities Convention on the Law Applicable to Certain Rights in Respect of Securities held with an Intermediary. The letter argues that ratifying this treaty would resolve legal uncertainties that prove detrimental to certain cross-border securities transactions. Ratification of the Convention will provide greater legal clarity for all parties in these transactions, resulting in a more predictable legal framework which would support the affordability and availability of credit around the world.