It has been suggested (at a recent SLA & Operations Council meeting) that we should review the decision not to include Change of Beneficial Owner (CBO) transfers within the scope of TeX. CBO transfers are (as you would expect) where the transferor and transferee are two different people. They are likely to occur as a result of death (for ISAs), death or divorce (for pensions) and in a variety of circumstances for GIAs.
Some firms will perform (especially for GIAs) simple CBO transfers between spouses as a matter of course, some firms forbid any kind of CBO transfer propositionally, but others see a significant demand for such transfers (especially on death or divorce) and would like these to be capable of being performed electronically and covered by the TeX contract. If we go ahead we would include the full range of CBO transfers within scope, not just those between spouses.
If there is enough support then this will be considered by TeX’s legal contacts and raised at UKETRG for a possible change to the message set. The earliest that it could be introduced is November 2028.
The following few questions help to capture your firm’s feedback on this issue to see what the demand is likely to be. This is simply an indication of likely support – it does not commit you. All questions (other than the first four) are optional. Please complete it by the end of July. The results and next steps will be discussed at the next SLA & Operations Council meeting in October. Thank you