Registers, Wallets, and Transfer Restrictions
Register state records who holds the instrument, what restrictions apply, and when that state changed.
Keep the record model explicit
The official instrument register, transaction history, and participant identity state remain separate where that distinction matters. A single generic ledger claim does not explain who can move the position, what restrictions apply, or how entitlement changes are recorded.
A wallet or portal view may show the position, but the official register remains canonical unless the docs explicitly state otherwise.
Register fields worth documenting
- Instrument class
- Asset or claim type defined by the published program terms.
- Holder identifier
- The governed holder reference or account mapping used by the register owner.
- Issue and retirement timestamps
- When the position entered and left the active register.
- Performance status
- Live, paid, technically defaulted, defaulted, or otherwise status-coded under the program.
- Restrictions and encumbrances
- Any lock, disposal restriction, pledge, freeze, or transfer dependency affecting movement.
- Evidence trail
- The notices, approvals, and settlement references that explain why the register changed.
Transfer-restriction discipline
- Document when transfer is free, when it is conditional, and when it is blocked.
- Show whether an event, approval, payment confirmation, or roster change is required before movement.
- Preserve encumbrance and restriction state in the public explanation, not just in operator tooling.