The International Commercial Law Subcommittee has been working for some time on a survey of G-20+ jurisdictions on their choice of law and substantive rules concerning predominantly U.S.- based pledges of deposit accounts, directly-held securities and securities held through intermediaries. A copy of the current version of the survey form is attached below.
In August 2012, at the ABA Annual Meeting in Chicago, David Billington and Michael Kern from Cleary Gottlieb Steen &amp; Hamilton's London and Frankfurt offices gave presentations on the UK and German law responses, respectively, to the Survey. In April 2013, at the Business Law Section Spring Meeting in Washington, Teun Struycken from NautaDutilh N.V. provided responses for the Netherlands, Belgium, and Luxembourg. The materials for these five jurisdictions are attached below. A response addressing Canadian law is currently in progress. The subcommittee is hoping to have several more jurisdictions addressed over the next year; volunteers would be welcome to work on surveys for Argentina, Australia, Bermuda, Brazil, Cayman Islands, China, European Union, France, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, Singapore, South Africa, South Korea, and Turkey.
Please contact us if you would like to contribute to this Survey. Once completed, the Survey will provide a very useful foundation for lawyers seeking preliminary guidance on security interests in the applicability of non-U.S. law to deposit accounts, directly-held securities and securities held through intermediaries.