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12 What is a "signature guarantee"? |
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12 What is a "signature guarantee"? |
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This article is from the FAQ, by with numerous contributions by others.
It is a guarantee by a financial institution that your signature
is genuine and the financial institution accepts liability for any
forgery. It is typically required for large or unusual redemptions
of open-end mutual funds, though some funds require it for all
redemptions. At many funds, the guarantor must be a commercial
bank or NYSE member brokerage firm; some funds accept savings and
loan associations or credit unions (be careful, some savings and
loan associations have bank-like names).
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