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New stage in development of legislation on the transboundary securities turnover. The Hague Convention on Certain Rights in Respect of Securities held with an Intermediary came into force
Nabiullina Yuliya Robertovna

Post-graduate student, the department of Private International Law, Moscow State Institute of International Relations of the Ministry of Foreign Affairs of Russia; Legal consultant “Robert Bosch” LLC

119454, Russia, Moscow, Prospekt Leninsky 123





This article directs attention to the gaps in legal regulation of transboundary securities transactions in light on enactment of the Hague Convention on “Certain Rights in Respect of Securities held with an Intermediary”. The author examines the prerequisites for creating such document that emphasize its importance and relevance for the stock market participant, as well as describes the key features of the proposed by Convention legal regulation with examples. Analysis of applicability of the document for the Russian legal reality and prospects of potential implementation is provided. The scientific novelty lies in the insufficient familiarization with the topic of transboundary securities turnover in the Russian Federation. Using the practical examples, the author demonstrates the applicability and relevance of the new approaches suggested by the Convention, as well as analyzes their strong and weak aspects. The article also depicts the problems emerging in foreign countries in terms of the transboundary securities turnover and their causes. A conclusion is made on the possibilities of implementation of Convention regulations in the Russian Federation.

Keywords: intermediated securities, conflict of law rule, Hague Securities Convention, indirect holding system, securities market, depositary, securities, holding system, Conflict of law, Private International Law



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This article written in Russian. You can find full text of article in Russian here .

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