A law firm has recently become the first in the UK to offer Medallion Signature Guarantees.
Complementing its services in assisting with the administration of assets located in North America, law firm Lester Aldridge has announced that it is now authorised to act as guarantors under the Medallion Signature Guarantee STAMP programme. With offices in Bournemouth, Southampton and London, Lester Aldridge are experienced in dealing with the administration of North American estates.
Now an authorised guarantor, the firm will be able to deal with the entire procedure, no longer needing to refer any element of the process to a third party.
In North America, a Medallion Signature Guarantee is typically required when an individual with shares passes away. It enables transfer agents to guarantee the validity of the person who signs the transfer documents. The Guarantee is in the form of a barcoded stamp, providing certification that the signature being guaranteed is genuine. When managing the transfer or sale of shares and mutual funds, the Guarantee is a statutory requirement. By providing a safeguard against fake signatures, the Medallion aims to reduce the risk of liability and loss.
Commenting on being the first UK firm to offer the Guarantees was Oliver Phipps. The Partner and Head of the International Private Client team at Lester Aldridge stated: “We are delighted to be enrolled as a provider of Medallion Signature Guarantees and pleased to be the first law firm in the UK to provide this service.”
“Medallion Guarantees are often not easy to obtain if you are a resident outside of the USA, however, my team can offer all the advice and expertise needed to ensure a smooth transaction under one roof, during what can often be a difficult time.”
