Securities are an integral part of the modern financial world. It is difficult to imagine modernity without this tool. But just buying and selling them is far from all. It is also necessary to ensure the storage of securities.
general information
So what is this? Accounting and custody of securities implies transferring work with rights to enterprises to the depository. At the same time, the right is granted to perform certain actions in relation to what is on the account. At the same time, the absence of individual characteristics for the main securities and certificates is practiced. Basically, depositories are designed to serve residents of the country. Although their services can be used by those who do not have the appropriate status. But for this it is necessary that they comply with all required legislative norms and legal acts. The depository ensures the safety and accounting of such assets:
- The documentary type that should be in special institutions, as well as those for which there are no special requirements for the implementation of centralized storage;
- Possessing a non-documentary form;
- Non / emission type.
Small digression
Many people think that pieces of paper are still used (yes, yes, with watermarks). No, they have not disappeared. But in most cases, databases are used to interact with assets. And all the information about who, what and how much belongs to is recorded electronically. But this does not mean that paper securities have disappeared somewhere and this is no longer relevant. Simply speaking about stocks and bonds, it is much more convenient to store them in electronic form. Although nobody forbids to release them on paper. But what remains unchanged? In paper form, deposit, mortgage and savings certificates, as well as promissory notes, are now issued.
How are assets taken into account?
Among the main approaches should be highlighted:
- Open way. It only means accounting for the total number of assets of the issuer by the depositary. At the same time, individual signs, such as series, numbers, categories - are not indicated. The client can give an order only in relation to the total number of assets that are in his account.
- Closed way. This is a special option for storing securities. It implies not only accounting for the number of assets, but also indicates their individual (personal) characteristics. This option allows you to transfer orders regarding specific securities that are placed on the account. Work is carried out only with those that are presented in the form of a documentary type. Asset accounting provides for the registration of the counter and the presence of numbers that allow you to identify the owner and storage location.
- Marked way. This means the storage of assets in the personal account of the issuing company. In this case, the tools used are divided into groups. Each of them includes securities with the accompanying terms of issue. In this case, the depositor (client) can entrust the execution of actions in relation to them with an exact indication of the group or features to which the asset belongs (has). The marked method involves the presence of a depository directory, which considers all the signs used.
How is storage carried out?
Now, let's look from a slightly different angle. In addition to the approaches described above, there are also:
- Safe storage option. In this case, the depository and the depositor do not maintain constant communication.In this case, only the storage functions for the issuer's values are performed. That is, the securities just lie in the safe.
- A related storage option. In this case, the depository assumes the performance of a number of functions in relation to its client and its assets. So he can notify about the time of the shareholders' meetings, notify about the payment of profit of assets, combine the responsibilities of a payment or transfer agent.
More detailed information is contained in the securities custody agreement.
What does the transfer process look like?
Suppose there is a desire and opportunity to preserve and increase capital. For this, securities were selected. How to work with them? It is initially necessary to conclude a contract. It is possible to keep securities in a depository or bank. True, in the second case, these tasks are performed by a subsidiary or auxiliary institution. Then you need to make a deal. The basis for this is the instruction of the initiator (client) to carry out the operation. Then, the registrar is notified of the crediting / debiting of securities to the account. And all - the necessary work has been successfully implemented.
What should be taken into account during work?
The provision of services for the storage of securities certificates has its own nuances. It:
- Documentary-type securities must comply with the norms and requirements of the Russian Federation;
- The depository may transfer assets for accounting and storage to another entity with an appropriate license, if there is an agreement between them.
- When a transaction is executed, documents are created: a memorial order (accounting of values) and an act of transfer and acceptance of the asset.
All this is created taking into account the needs of qualified market participants. It should be noted a few points arising from this:
- The depository transfers assets to the client's account without problems if he is a qualified investor. If he does not belong to this group, then a check is carried out for compliance of procedural issues with current legislation.
- The depository may credit securities that were limited in circulation to the accounts of nominal owners when they are opened by the other party. In addition, they can be transferred to the trustee and the pledge holder.
Fraud and prosecution
Probably, many who first encountered all this were interested in the question of whether it is possible to organize the storage of counterfeit securities. In this case, we should recall the general criminal law, namely, article 186. It states that the manufacture, storage, transportation, and sale of securities are prosecuted under the law. Depending on the magnitude of fraud, a person may face imprisonment for up to fifteen years. In addition, significant fines of up to one million rubles may be imposed on him. Agree, the amount is quite significant, and the term is large. Therefore, it is better not to play with securities. If it so happened that they fell into the hands of fakes, then you need to contact the law enforcement agencies (for investigation), the appropriate supervisory authority (to verify this fact and take all necessary measures), as well as to the bank (if payment was made with its help and passed not a lot of time, then perhaps he will manage to block the transfer of money, which will greatly facilitate their return).
Final instruction
Many believe that it is enough to sign an agreement on the storage of securities in a bank or depository and that’s all - you can already forget about them. But this is a fallacy. It is necessary to constantly monitor the situation and situation, keeping a hand on the pulse of events. Take, for example, the situation with management companies. Many people think that simply transferring securities to a professional is quite enough. And everything else does not bother them. He will figure it out. But this is a mistake, because there are certain legislative restrictions that even the best professional cannot get around.For example, the market collapse begins. And you urgently need to transfer all shares to money, then to buy them at a cheap price. The only trustees are legally limited by the fact that they cannot convert more than 10% of the client’s assets into money without his permission. That is, even the best specialist in this case can only slow down the loss of funds in a falling market. And constantly asking for permission at every crash is too long and slow. Therefore, this is not practiced. And to monitor their own situation, at least spending a couple of hours a week, should be independently and regularly.