sharetrader
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  1. #21
    Junior Member
    Join Date
    Feb 2019
    Posts
    4

    Default

    This is exactly my concern too. Is my ASB share trading account exposed to the dreaded counter-party risk should the parent Bank get into strife?

    Basically this seems to be akin to a ‘bail-in’ situation similar to that prescribed by the Open Bank Resolution where depositors become responsible for the shortfalls created a bank.

    Does anyone know of an online service that provides the equivalent of a share certificate? I think we all got rogered here by our transactions all being pooled under the Halifax account?! Any advice would be welcomed.

  2. #22
    Legend peat's Avatar
    Join Date
    Aug 2004
    Location
    Whanganui, New Zealand.
    Posts
    5,313

    Default

    I checked out the Halifax software but wasnt impressed and so lost interest in them.

    Always get stuff you buy registered in your own name if at all possible. Sure CFD's cant be , and overseas holdings tend to be custodial but dont have to be (I think)
    For clarity, nothing I say is advice....

  3. #23
    Senior Member
    Join Date
    Jan 2015
    Posts
    512

    Default

    anyone went to the 2nd meeting?

  4. #24
    Junior Member
    Join Date
    Feb 2019
    Posts
    4

    Default

    No but there is a good podcast of the meeting on the administrators website https://www.ferrierhodgson.com/au/cr...ealand-limited

    Very frustrating as an IB user - we are getting shafted simply because our funds passed through an (illegally) pooled multi-platform account on the way to our brokerage account. This account was being siphoned by the Bentley-leasing lizard in Australia to pay operating expenses. With no intention on our part, we have ended up using 10 cents of someone else’s money for every dollar transferred to the IB platform.

  5. #25
    Banned
    Join Date
    Jan 2002
    Location
    auckland, , New Zealand.
    Posts
    6,532

    Default

    BBY clients one step closer to finding out their fate four years after the collapse

    https://www.abc.net.au/news/2019-05-...ction=business

    i had a account with BBY but was fortunate to have moved my funds a yr before demise. do not have funds with halifax but wonder if this means halifax situation will drag on for yrs like BBY

  6. #26
    Advanced Member
    Join Date
    Sep 2009
    Posts
    1,584

    Default

    This looks hopeful for those affected
    http://www.sharechat.co.nz/article/2...September+2019

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