Effective 3 June 2024, for all new issuances (NGN, NSS and CGN) across all issuers’ jurisdictions and irrespective of governing law, ICSD CSK, Commercial Common Safekeepers and Common Depositories will accept electronically signed Global Notes. Additionally, the ICSDs will accept other electronically signed issuance documents besides e-GN. As a result, the legal packs have been updated to include the electronic signature option:
Accepted type of electronic signatures
The ICSDs accept Single Electronic Signature (SES) as a minimum electronic signature level usage for issuer documents. The most commonly seen forms of SES include:
- a scanned PDF copy of the signed signature page being provided
- an image of a person’s signature being electronically pasted into an electronic (i.e. soft copy) version of the contract in the appropriate place or
- a web-based electronic signing platform (such as DocuSign) being used through which the person’s name in typed or handwritten font is automatically inserted into the contract in the appropriate place
Like today for wet-ink signatures, it is required to retain supporting documentation or evidence in relation to the signing of such documents using electronic signatures and have it readily available to provide to the ICSDs upon request. The ICSDs do not require such supporting documentation or evidence in relation to the signing on a structural/pro-active basis.
For further information on the changes to legal documentation regarding electronic signatures, we recommend that you read this joint invitation document.
Issuance documentation templates
