help -broker abuse

This is a discussion on help -broker abuse within the Brokerages forums, part of the Commercial category; Hi I need some advice I made a trade in march which resulted in me buying some shares an error ...

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Old Nov 8, 2007, 10:31pm   #1
 
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Joined Nov 2007
help -broker abuse

Hi

I need some advice I made a trade in march which resulted in me buying some shares an error occured which resulted in a second allocation of shares being put in my name and a certificate being sent to an incorrect address. IE I have twice as many shares as are rightfully mine. I am not bothered about hanging onto these but in the process of trying to retrieve the shares my broker has behaved pretty poorly.

I am now pretty irritated by them and what at least an apology/ some financial compensation. If the shares are in my name can I hold them to ransom? Or will they go legal on me and will this be a hassle for me?

Thanks
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Old Nov 9, 2007, 1:03am   #2
Joined Jun 2006
Slim,

Why are you trying to retrieve shares which are not legally yours? Presumably you haven’t paid for these. So what is the problem here? On what grounds are you seeking an apology and compensation? Is your broker holding you responsible?

Grant.
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Old Nov 9, 2007, 11:03am   #3
 
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slimsurf started this thread Hi

i wasnt trying to but long story short its caused me a reasonable amount of inconvenience - confusion etc . initially they had me hunting around at home for a duplicate certificate then tried to get me to sign an indemnity for the one certificate I did have and finally have been pretty rude througout the process. I dont want the shares but honestly am peed off by the way I have been treated its a long story so I wont go into it. My intention certainly is to give them the indemnity they need but I want to know if I hang on to pee them off as punishment what they can actually do.

Childish i know but believe me they deserve it.

slim
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Old Nov 9, 2007, 2:46pm   #4
Joined Jun 2006
Slim,

“tried to get me to sign an indemnity for the one certificate I did have”. Looks they’re trying to indemnify themselves for their own screw-up on the lost cert .(Who signs the indemnity for lost stock? Couldn’t they call the registrars to cancel the stock?.)

“and finally have been pretty rude throughout”. No excuse for rudeness.

“Childish”? No. You have my sympathy, Sir. Tag them along and let them sweat.

Good luck.

Grant.
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