RE: Bronte Capital29 Jul 2021 00:59
Roly You are wrong
I said technically you do not own your shares the broker does
The company that you have invested in has no idea who you are. You do not appear on their list of share holders, you have no rights to attend an AGM or vote or take advantage of shareholder perks(store discounts for example). There is nothing to stop a broker selling your shares without you knowing, if you logged on to your account they would still show as owned by yourself when infact they could have been sold. The broker is obliged to register 'your financial interest' in a nominee account to protect it from creditors, but there is nothing stopping the broker breaching that obligation and dipping into those shares to sort out it's own financial problems. There is only 2 ways to own your shares, go back to the old days with paper certificates or have your shares held in a crest account, but that can cost thousands, HL charge £7500 per year per account for Crest
https://www.investorschronicle.co.uk/managing-your-money/2019/11/07/what-to-do-when-your-broker-goes-bust/