ANZ Securities sold to FNZC

[stoploss]

Looks like it is back now ,I had the same problem

[Jay]

Have read the memo t. This is for a family trust which currently does not have any exposure on the ASX and may not do for a awhile yet. So it involves getting all trustees ID'd etc. Just a pain in the proverbial really

[777]

Have read the memo t. This is for a family trust which currently does not have any exposure on the ASX and may not do for a awhile yet. So it involves getting all trustees ID'd etc. Just a pain in the proverbial really

Yes a right PITA. Surely all the info held by ANZ Securities/ Direct (The old one) should be available to them. Even when Direct took over the clients of Access Brokerage there was no requirement to repeat all the ID rubbish. It was seamless change at the time.

[blackcap]

Yes a right PITA. Surely all the info held by ANZ Securities/ Direct (The old one) should be available to them. Even when Direct took over the clients of Access Brokerage there was no requirement to repeat all the ID rubbish. It was seamless change at the time.

I was involved with that process. Round about that time 2005-2006 things started getting a lot tighter regulatory wise. (Direct Broking got a "compliance officer" on board etc)I think it has got worse since then too. Cannot really blame Direct/ANZ/FNC for complying with the law as much of a pain in the ass as it is.

[airedale]

On reflection, perhaps I should transfer to ASB.

[airedale]

I have been on the phone to Nick or Jacob every day this week trying to get my orders accepted. I get the message from the ANZ S&B page that I am not registered with CHESS {despite trading regularly for years}. Apparently USB are somewhere in the middle of this, between ANZ and FNZC, and the CHESS numbers like FINs and HINs are not yet transferred. Jacob tells me that the numbers will be sent out soon. I forgot to ask him whether that would be by email or snail mail. It is a right c88k up. I have got no urgent trades but I imagine that some people will be most upset as our accounts are frozen.

[Jay]

True blackcap, banks are the same I think.
But as 777 says, why can't we just carry on and they can update overtime, after all we didn't ask them to sell the broking side, but then again ANZ themselves may have had to do this in any event in time.

[GTM 3442]

As long as New Zealand has no reliable system for proving identity, the compliance gnomes will continue to proliferate.

Ineffective, unimaginative, box-ticking at it's worst.

[iceman]

As long as New Zealand has no reliable system for proving identity, the compliance gnomes will continue to proliferate.

Ineffective, unimaginative, box-ticking at it's worst.

Agree. This is a ridiculous process. Took me ages to work out what info was ¨incomplete¨ for myself and the other Trustee on our family Trust. Turned out the type of driver´s licence was missing. The number of the driver´s licence was there but not the type. Doh.
What happened about that RealMe thingy ? Why isn´t everyone made to have some form of electronic ID that can be easily and quickly used, as is becoming common overseas ? Time to get into the 21st Century

[minimoke]

This whoel ID thing is driving me nuts. I've been through it so many times in the past years there are hours if not days of my life I will never get back. Shouldn't my IRD number do?