Die Regelungen des redlichen Erwerbs und des Rangs in der Genfer Wertpapierkonvention

The Geneva Security Convention creates a common legal framework for the holding, transfer and collateralization of intermediated securities. Securities have been displaced by electronic book-entries and are transferred electronically. Germany still applies a traditional property law concept which differs considerably from the English trust concept. The Geneva Securities Convention aims at harmonizing the rules on intermediated securities and thereby maximizing legal certainty without interfering with the different legal concepts of the member states (functional approach). The author analyses to what extent the rules on transfer, innocent acquisition, collateralization and priority in the Convention increase legal certainty on the one hand and are compatible with the corresponding rules in Germany and England on the other hand.