Security
5 min
Lose a key, not the asset
A registered security cannot belong to whoever holds a private key. Here is the recovery procedure we run, step by step.
In a bearer instrument, losing the key is losing the asset. A registered security is different: the holder is the person on the register, and the register can be corrected on a proper instruction. ERC-3643 gives the issuer’s agent the tools. The procedure around them is what matters.
Order, freeze, reissue
Order. The holder proves who they are through their verifier again and signs a recovery request; compliance checks it against the original onboarding file and issues a forced transfer order under the offering terms. Freeze. The lost wallet is frozen, so nobody who finds the key can move its units. Reissue. A forced transfer moves the units to a new wallet linked to the same identity. Each step is a transaction that cites the order.
How long it takes
On average, two business days from request to reissue, most of it the re-verification. Order R-2026-114 moved 1,200 units of Halden Private Credit I after the holder’s claim was renewed on 2 October.
The same controls serve a court order or a sanctions match, and nothing else. They need two signers out of four, are logged, and are reported to the issuer the same day.
Hannah Okafor
Chief Compliance Officer and MLRO
