Re_ bearer shares _ – grupos do google money laundering eu

On 04/04/2016 15:12, jethro uk wrote:

Following the panama leaks, this phrase is doing the rounds.

From

Http://www.Bbc.Co.Uk/news/world-35961422

Quote:

Bearer shares were widely used in offshore schemes, but they have now

Been banned in many countries because they can be used to facilitate

Money laundering and tax evasion.

A bearer share is a piece of paper saying you own a share of a company.

There doesn’t have to be any other record other than that piece of paper,

Which means you can hide your ownership of bearer shares

EndQuote:

How are dividends paid ?

There’s a whole load of coupons attached to the certificate. Seriously.

That’s why stocks are said to go ex-coupon.

If, as the article claims there is no other record kept, surely the risk

Of a couple of fraudsters turning up with pieces of paper saying *they*

Own the shares is extremely high ?

Possibly.Money laundering eu

I note, with interest, that the met police seized some bearer shares in

Relation to the brinks-matt robbery. However, the company involved was

Able to re-issue them.

Re: bearer shares ?

Ian jackson

04/04/16 09:17

In article ,

Jethro uk wrote:

If, as the article claims there is no other record kept, surely the risk

Of a couple of fraudsters turning up with pieces of paper saying *they*

Own the shares is extremely high ?

The fraudster would have to know exactly what the bearer share looked

Like. There might be secret validation numbers printed on them, and

So on.

And they would have find someone to run the risk of turning up in

Person to present their forged share.

I note, with interest, that the met police seized some bearer shares in

Relation to the brinks-matt robbery. However, the company involved was

Able to re-issue them.

I’m not sure what the legal process is for the remedy, but clearly if

money laundering eu

Someone steals a bearer share, and the theft can be proved, it is the

Original holder of the share, and not the thief, who is entitled to

The rights and privileges of the shareholder. Even if the stolen

Share cannot be located.

Ian jackson these opinions are my own.

If I emailed you from an address @ fyvzl.Net or @ evade.Org.Uk, that is

A private address which bypasses my fierce spamfilter.

Re: bearer shares ?

Chris R

04/04/16 09:18

Following the panama leaks, this phrase is doing the rounds.

From

Http://www.Bbc.Co.Uk/news/world-35961422

Quote:

Bearer shares were widely used in offshore schemes, but they have now

Been banned in many countries because they can be used to facilitate

Money laundering and tax evasion.

A bearer share is a piece of paper saying you own a share of a company.

There doesn’t have to be any other record other than that piece of paper,

money laundering eu

Which means you can hide your ownership of bearer shares

EndQuote:

How are dividends paid ?

If, as the article claims there is no other record kept, surely the risk

Of a couple of fraudsters turning up with pieces of paper saying *they*

Own the shares is extremely high ?

I note, with interest, that the met police seized some bearer shares in

Relation to the brinks-matt robbery. However, the company involved was

Able to re-issue them.

UK companies can no longer issue bearer shares, though I have seen it done

In the past for stamp duty avoidance (loopholes closed long ago).

Bearer shares should be security printed and hard to forge, for obvious

Reasons, though the company will often have a good idea who has them.

Dividends used to be paid by attaching little slips of paper to the share

Certificate, and whoever turned up with the slip for that dividend could

money laundering eu

Claim payment of it; or you could require the shareholder to appear

Somewhere with his certificate to claim the dividend. But bearer shares

Haven’t been traded in legitimate mainstream markets for many years.

Although the holder was regarded as the owner, it did require an intention

To transfer to pass ownership – if I asked you to hold my briefcase you

Didn’t become the owner of the bearer shares in it.

As with some other discussions here (eg driving licences) it’s interesting

How our concept of the status of paper document has changed as we have all

Got used to computerised records. At one time people would have regarded the

Certificate as being the shares, or at least the document of title to the

Shares. Now, with very little legal change (for unlisted securities), it has

Become a minor bit of evidence, with everyone realising that it’s the

Register that matters.Money laundering eu

The new PSC register for UK companies is supposed to get round issues such

As bearer shares by requiring the directors of UK companies to investigate

And report the ultimate ownership of large holdings of shares in their

Company.

Chris R

========legalstuff========

I post to be helpful but not claiming any expertise nor intending

Anyone to rely on what I say. Nothing I post here will create a

Professional relationship or duty of care. I do not provide legal

Services to the public. My posts here refer only to english law except

Where specified and are subject to the terms (including limitations of

Liability) at http://www.Clarityincorporatelaw.Co.Uk/legalstuff.Html

======end legalstuff======

Re: bearer shares ?

Robin

04/04/16 12:41

On 04/04/2016 17:15, chris R wrote:

But bearer

Shares haven’t been traded in legitimate mainstream markets for many years.

Point of information.Money laundering eu france still has bearer shares – eg groupe

Eurotunnel bearer shares[1] (which arose from complications with UK

Stamp duty with the paired shares) are still traded in france. But

They do require an intermediary (an option which IIRC was considered in

The consultation on abolition of bearer shares in the UK). .

[1] groupe eurotunnel SE shares can be held in two forms:

Bearer shares:

Bearer shares are held in an account opened by a shareholder with a

Financial intermediary of his choice who manages the shares on his

Behalf. Bearer shareholders are not known to groupe eurotunnel SE,

Except where the company commissions a TPI (titre au porteur

Identifiable i.E. Identifiable bearer security) enquiry to euroclear

France, the french body in charge of executing financial market

Transactions, in order to get an overall or partial snapshot of its

Share ownership structure at a given moment in time.Money laundering eu

Registered shares:

Http://www.Eurotunnelgroup.Com/uk/shareholders-and-investors/shareholder-guide/shareholding-methods/

PS

I wish more of the things I can still recall weren’t so mind-bogglingly

Boring 🙂

Robin

Reply-to address is (intended to be) valid

Re: bearer shares ?

RobertL

12/04/16 07:48