RE: RE: share dealing13 Oct 2020 00:13
Have you actually read the t+c's of H L or just accepted their public statements.
I've looked at Iwebs t+c's and l think the last item (10.10) rules out lending out shares for shorting, but I'm not sure about the third party allowences.
"10.5 We will hold your investments in accordance
with regulatory requirements.
10.6 We will accept full responsibility for the acts
and omissions of the nominee companies as
if they were our own.
10.7 Where we appoint a third party to act as
sub-custodian, we will exercise all due skill,
care and diligence in the selection and
appointment and periodic monitoring of
that third party. However, we accept no
responsibility for the default or other failure
to perform by a third party sub-custodian
except to the extent that we have failed to
exercise such due skill, care and diligence.
10.8 Where your investments are held by a third
party custodian, we cannot ensure that you
would not lose any investments if the entity
fails. In order to show that your investments
are not available to that entity’s creditors,
we will take reasonable steps to ensure that
their records show that the investments are
held for you and that they do not belong to
us, the nominee company or the third party
sub-custodian. In the event that a nominee
company or third party custodian becomes
insolvent we will seek to recover your
investments through all means reasonably
available to us, including from the administrator
or insolvency practitioner appointed to deal
with that entity’s affairs. During such period you
may not be able to place an order to deal in the
affected investments.
10.9 You authorise us, and the nominee companies
and third party sub-custodians which we
appoint, to hold or transfer investments (or
entitlements to them) with or to: securities
depositaries, clearing or settlement systems,
account controllers or other participants in the
relevant systems in the course of providing the
service. These investments or entitlements will
be separately identifiable from any investments
or entitlements held in the same system for our
account. These entities may be located in or
outside the UK.
10.10 We will not lend or deposit by way of
collateral any investments in your account to
a third party."
I was just trying to help toatie..
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