UCC Articles 8 and 9 and the Hague Securities Convention

Revising Securities Account and Account Control Agreements, Determining Where to File, Transitional Issues

A live 90-minute premium CLE webinar with interactive Q&A


Thursday, September 19, 2019 (Tomorrow)

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

or call 1-800-926-7926

This CLE program will explain the effect of the Hague Securities Convention on practices under Articles 8 and 9 the Uniform Commercial Code. It will focus upon the circumstances in which new clauses should be inserted into securities account agreements and account control agreements and in which instances the jurisdiction for perfection, priority or the rules for enforcement of a security interest may change. The panel will also discuss some recent Articles 8 and 9 decisions.

Description

The Hague Securities Convention, which has been effective as a matter of United States commercial law since April 1, 2017, addresses significant conflict of laws issues that arise when securities are held with a bank, broker or clearing corporation through the so-called "indirect holding system" and have some cross-border element, e.g., the securities are issued by an issuer in another country, are held by broker in another country or are subject to an adverse claim from a person in another country.

The uncertainty under current law on these issues creates significant risks for securities customers, banks, brokers, clearing corporations and third-party lenders in transactions with one or more cross-border elements. The Convention, if widely adopted, would resolve these issues and in any event already affects transactions under Articles 8 and 9 of the Uniform Commercial Code.

Listen as our authoritative panel of commercial finance attorneys guides you through the Hague Securities Convention and the its effect on current practices under Articles 8 and 9 the Uniform Commercial Code as well as recent court decisions under Articles 8 and 9.

READ MORE

Outline

  1. General summary of the indirect holding system and the provisions of the Convention
  2. Impact of the Hague Securities Convention on current practices under UCC Articles 8 and 9
  3. Suggested provisions for securities account agreements and securities account control agreements
  4. Change of location for the perfection of a security interest by filing
  5. Recent UCC Articles 8 and 9 cases involving investment property

Benefits

The panel will review these and other key issues:

  • What risks facing securities customers, banks, brokers, clearing corporations and third-party lenders does the Hague Securities Convention address?
  • What do recent court decisions tell us about practice under Articles 8 and 9 of the Uniform Commercial Code?
  • Under what circumstances would it be prudent to insert new clauses into securities account agreements and securities account control agreements?

Faculty

Bjerre, Carl
Professor Carl S. Bjerre

Kaapcke Professor of Business Law
University of Oregon

Professor Bjerre specializes in commercial law. Active in national and international projects to modernize commercial...  |  Read More

Rocks, Sandra
Sandra M. Rocks

Counsel
Cleary Gottlieb Steen & Hamilton

Ms. Rocks' practice focuses on commercial financing, including secured transaction and bankruptcy law. She is...  |  Read More

Smith, Edwin
Edwin E. Smith

Partner
Morgan, Lewis & Bockius

Mr. Smith concentrates his practice in commercial law, debt financings, structured financings, workouts, bankruptcies,...  |  Read More

Live Webinar

Buy Live Webinar

Live Webinar

$347

Buy Live Webinar & Recording
A savings of $250

Live Webinar & Download

$444

Live Webinar & DVD

$444 + $19.45 S&H

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

48 hours after event

$347

Download

48 hours after event

$347

DVD

10 business days after event

$347 + $19.45 S&H