Why do I need a Medallion Signature Guarantee Stamp?
For someone who is living outside the US and holding stock in a US or Canadian listed company, the only way to sell the shares or transfer the ownership into a different name is to submit a Medallion Guarantee stamped Transfer Request or Stock Power Form to the transfer agent along with various required documents.
What is it?
The Medallion Guarantee (above) is stamped onto the Transfer Request Form. It acts as official authentication of the validity and authority of the person initiating the transfer. The stamp shows the transfer agent that the signature is genuine, enabling them to proceed with their instruction to transfer or sell the stock. It is intended to protect shareholders and transfer agents alike from fraud. With this in mind, the stamp providers must therefore assure themselves that the person initiating a transfer of securities is who they say they are.
Who can issue them?
Providers of the Medallion Guarantee Stamp in the UK are all members of the Securities Transfer Agents Medallion Program (STAMP). They comprise a handful of companies in the UK who are authorised to issue the Medallion Guarantee Stamp but only when they are entirely satisfied that all criteria have been meticulously observed.
As agent to a STAMP member, Finders International provides a no-nonsense , quick turnaround service at no extra cost to the customer. They will ensure that all the documentation is present and correct before sending on to the stamp provider, helping prevent delays occurring while additional documentation is sought.
To sell or transfer US or Canadian Securities, you need to sign a stock transfer form (or its equivalent) and the signature needs to be “guaranteed” before a transfer agent will accept the transaction.