Knowledge Base

← Post-Trade and Market Infrastructures

Questions

Which article of the Code monétaire et financier defines administered registered ownership?

Article L.211-3
Article R.211-2
Article R.211-4
Article R.211-5

Which are the major issuer agents in France that manage registered accounts for listed companies?

BNP Paribas and Societe Generale
Uptevia and CACEIS Corporate Trust
Credit Agricole and La Banque Postale
LCL and HSBC France

What is the main characteristic of direct registered ownership?

The securities are registered in an account held by a financial intermediary
The securities are registered directly in the issuing company's register
The securities are managed by several financial intermediaries
The securities are centralized in a single account with a bank

Under Article L.211-3 of the Code monétaire et financier, transferable securities issued by joint-stock companies may take the form of:

Bearer securities and registered securities
Bearer securities and administered securities
Direct registered securities and bearer securities
Administered securities and bearer securities

Under administered registered ownership, the investor must place orders directly with the issuer.

True
False

Categorize items by dragging them to the appropriate zones

Items to categorize:

Double voting rights for shareholders loyal for two years
A single tax form (IFU) for all securities
Savings on custody and management fees
Compatibility with tax-advantaged wrappers such as the PEA
Categories:

Advantages of direct registered

Advantages of administered registered

Direct registered ownership allows direct compatibility with tax-advantaged wrappers such as the PEA without complex coordination with the plan-holding bank.

True
False

Administered registered ownership

Click to see answer