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In the United States and Canada, a medallion signature guarantee is a special signature guarantee for the transfer of securities. It is a guarantee by the transferring financial institution that the signature is genuine and the financial institution accepts liability for any forgery. Signature guarantees protect shareholders by preventing unauthorized transfers and possible investor losses.
The Medallion Signature Guarantee is used for selling, redeeming or transferring securities, such as stocks or mutual funds. The transfer agent requires the signature of the owner(s) of the securities to be âguaranteedâ by a financial institution before they will act upon the transaction request. The Medallion Signature Guarantee procedure is more complex than a notarized signature procedure. Since Decatur Earthmover Credit Union accepts liability for any forgery, we are required to verify more information than is needed for a signature to be notarized.