Can anyone help with a policy for using a Medallion Guarantee/Signature Guarantee Stamp for securities transfers? Do you have only officers use this stamp? We are currently enrolled in this program and have been for years; however, we have never had a written policy concerning its' use. I have read all the literature from our program administrator but would like to hear from other financial institutions, especially if anyone would be willing to share their policy with me. Thanks for providing a great information source to those of us who are new to compliance but who are old (25 year veteran) in the banking world.

Joanne, I'd be glad to share mine with you except that I have no way of contacting you. Your profile doesn't have your e-mail address and you didn't provide any contact information in your message.

I found myself in the same position last year. I had never had any dealings with Medallion Stamps before, but when I took over the compliance area for the bank that had acquired my institution, I found my duties included administration of the signature guarantee program. A quick review revealed that there was no comprehensive inventory of the stamps in circulation and no written policy. We developed one in short order and have very successfully implemented it. Post back here with contact information or contact me via my profile information and I'll share our materials.

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Jim Bedsole, CRCM, CBA, CFSA

Opinions expressed are my own, and do not necessarily reflect those of my employer.

Jim: We are having some discussion regarding signature guarantee. Would you be willing to share your policy? My email is vldoski@sccemail.com. Thanks.

Jim:

I believe you had some discussion regarding medallion stamp procedures etc... some time ago, but the situation has just come up for me today with regards to the different types of stamps and the cost of these stamps.
It appears that there is a d prefix stamp and an e prefix stamp. Supposedly there is also a cost for these stamps?
I am the Compliance/Training officer for a community bank, so I never have encountered this question before.
Do you have any info on these goofy stamps?
If not do you know where I could do some research?

My e-mail is lbeatov@suburbanonline.org
Thanks,
Lisa

I beleive the Security Transfer Agents Medallion Program (STAMP) is administered by Keymark Financial Services.

http://www.kemark.com/index.htm

Al is correct, the Medallion STAMP signature guarantee program is indeed run by Kemark and you can get contact information from the link Al provided. My understanding about the prefix letters is that they identify the level of surety bond coverage backing the guarantee so that those receiving documents that have been guaranteed can readily determine whether the guarantee supports the value of the transaction. Kemark should be able to answer any specific questions you have.

Jim, Do you allow Assistant Managers to use the Medallion Guarantee or do you only allow Managers?