The revised proposals were introduced on December 7 and will
still ban US issued bearer bonds. But there is now a section
stating that issuances cleared through a dematerialised book
entry system would be considered as being registered by the
Crucially, the bills grandfathering provisions have
been tweaked. If the bill is passed, then the rules will not
affect new issuances until two years after the date of
enactment. Previously the time period was only six months.
The extension to two years is...