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Reminder on Record Dates Bulletin

The ICMSA would like to draw members’ attention to Bulletin O91116/13 of November 2009 (attached) in relation to the documentation and application of Record Dates in the International Market, relative to each of Bearer and Registered issuances.

The ICMSA draws attention to an ongoing practice by certain issuers of international instruments in global bearer form to insert a record date in their issuing documentation. Strictly speaking such terms are incompatible with bearer instruments, with ‘record date’ terminology typically referring to registrar’s records for registered securities.

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