Nefario has a "key man" policy in place he has shared with the glbse shareholders. These shareholders are some long time bitcoiners who wont let glbse "disappear" without a fight.
Cant say much more as its up to Nefario what he chooses to share with users.
All of the access information required to keep GLBSE running has been encrypted and provided to a number of individuals. X of Y members of that group are needed to come to a consensus and provide pieces of the encryption key needed to access that data. This ensures continuity, while at the same time preventing any one individual from going rogue and messing things up so to speak.
It does seem like it might be useful for there to be a mechanism for asset issuers to maintain their own records of who holds their asset, but then we run into privacy concerns where asset owners might not want that information known to anyone. Where's the balance? I really don't know.