The Medallion Guarantee required to sell US (and Canadian?) shares?

Extracts

We spoke to the three main Irish brokers – Davy, Goodbody and Cantor Fitzgerald. The good news is that Goodbody and Davy provide a service covering the Medallion Guarantee – in cases for free; the bad news is that they will only do so for clients.

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Davy, to be fair, tells me that they provide a list of contacts that should be able to help. It is a select group and all are based in the UK, though Finders International does actively operate in the Irish market. The others are IWC Probate Services, Lester Aldridge and Share Data.

Goodbody pointed me to the Computershare website that suggests IWC for shareholders in countries like Ireland.

A brief check around showed that the most basic service would cost around €310-€320 but this places all the onus for checking that the multiple documents required on the investor.

Given the complexity involved and the additional cost of having to seek a second Medallion Guarantee Stamp in that case, I would suggest investors other than those familiar with the process sign up for a fuller service. An application could be rejected for something as simple as expressing dates in European day/month/year form rather than the US style of month/day/year, for example.

The cost here seems to run from €430-€440 upwards.

That does not include the legal costs, as you will need to go through a solicitor for several of the items required. So you can probably expect to double that cost, ultimately.
 
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