viewtopic.php?f=26&t=12424
Link to a petition ...worth a read and definitely worth signing up!
Aendryr said
"This is legal and possible because of a certain unknown Rule 135 of the Special Administration Regime that allows administrators to use client shares / assets to fund the administration on the collapse of a stock broker or wealth management firm.
Shares / cash within ISAs, SIPPs and trading accounts are marketed as ring-fenced, yet this rule 'breaks' that ring-fence and creates a conflict of interest between returning assets to clients in a timely fashion and the administrators' corporate motivation to maximise fee income. This rule gives administrators an open cheque book as PWC proved when they came up with a bill of £100m to return shares / money to Beaufort's clients."
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Protect your assets!
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Re: Protect your assets!
Moderator Message:
This is not the first time this has appeared here. Will lock thread so no posts on here. Raptor.
This is not the first time this has appeared here. Will lock thread so no posts on here. Raptor.
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