Forum Archive Index - January 2001

["G Stolwyk" <stolwyk@wave.co.nz>]

 

The following advice was given by me to somebody whose broker wanted a listing of share holdings, FIN and Shareholder numbers:  

 

"Normally, a broker will ask you for a FIN number again if it appears that you have given them an incorrect number when you made a sale.

 

Otherwise, it is strictly a matter between the Share Registrar and you, I would say.

 

Some brokers like to obtain more control by suggesting that their clients lists their holdings.

A broker may then advice that it would be better if so and so shares were to be sold and others bought as replacement.

 

The broker may well be sincere and tries to take good care of you.Obviously, he already has a record of your dealings with him!

 

By you listing them every so often, a broker will know if you also traded with another broker!

 

I have had these requests over the years but as I don't have any 'Alzheimer' as yet, I have always ignored them!!

In any case, none asked for my FIN number.

 

Any correspondence asking for FIN numbers may be from fraudulent sources: you can lose your money if you don't take  care with your FIN number!

 

I suggest you contact your Registrar first and discuss this with them. If the broker's request was in a written form, I suggest you mention this as well. 

 

Is it possible that you have vested these shares with your broker as security? You don't mention this; if so, I can't answer your question. 

 

If in doubt, you should always contact your Share Registrar first!

 

Those are my opinions."      

 

Gerry