The Federal Intermediated Securities Act (FISA) and the Hague Securities Convention (HSC)

With the entry into force of the Federal Intermediated Securities Act (FISA), the law governing the holding of securities through intermediaries has been placed on a new and firmer foundation. At the same time the international private law of intermediated securities has been newly regulated by the Hague Securities Convention (HSC). Both the FISA and HSC are systematically elucidated in a commentary published in the series 'Stämpfli’s Handkommentare' oriented to supporting legal practice. The commentary, published in English, responds to issues of interpretation resulting from the application of the new statutes and provides a clear dogmatic foundation and integration of new legal concepts. Particular emphasis has been put on the application of the FISA and the HSC in the international cross-border context. The commentary is completed by comparative remarks, taking into account in particular the Geneva Securities Convention of 9 October 2009 as well as various EU legislative initiatives currently in development. The editors and authors have been actively involved in the drafting of the FISA and related international projects and have published on the reform of securities law.