Fat Fees Being Charged On US Shares By JP Morgan12 Jan 2022 14:31
And coming down the pipeline to the UK?
Unfortunately, as well as holding TILS in my UK ISA, and therefore ACMSY in my Fund and Shares Account at HL, I also hold TLSA shares in a US Fidelity Account (I used to be US Resident for several years much like daveycaferacer, I believe).
Yesterday I noted 2 considerable sums were taken from my account, amounting to over 7% of my TLSA share value!
I called Fidelity as I had no idea about these charges. They looked into it and it turns out there is
a) Annual fee of $0.02 per ADR, just for holding them, to JP Morgan
b) A one-off CUSIP number change fee of $0.05 per share, again to the banksters at JP Morgan
At a current price per ADR of $0.88 you can see this is already 8% of share value, plus you will be charged commissions if shares have to be sold to cover the charge.
I was not informed of these charges beforehand, perhaps they are buried in a corporate action document from Tizianas listing advisors at Dechert LLP.
Are they coming down the line to our new NASDAQ shares in our UK ISAs and SIPPS too? I would suspect so.
Just when I thought I couldnt have a lower opinion of GC and KS.