Can I take Equiniti to the small claims court?

gb12345

groundsmans wrote: »

how did you get on

The last post on this thread is nearly a year old and the poster hasn't been back to the site since they posted, so I'd say you are unlikely to get an answer.

malkyh

Customer service from all the large Registrars is poor. The call centre agents have no idea what they are talking about half the time. Staff turnaround on the call centres is high so it's very rare to get to talk to someone with any experience.

Relationship managers will not take calls from shareholders so you end up getting passed around from one department to the other. Try owning VCT shares, the main 3 registrar call centres have no idea about them, much to the disgust of the IFA world.

In my opinion, share certificate replacement is just a cash cow for a registrar. You can end up paying a small fortune for a replacement, even if you have never received it. Most articles of association of the companies state that certificates are posted at the shareholders own risk, as do most T&Cs.

oneye14

Customer service from all the large Registrars is poor.

No - Equiniti is the worst by a very large margin.

Your complaints are and always will be brushed aside. I believe we all should refer back to the company who employs these cretins. In my case it's Trinity Mirror who have had earache from me for over 2 years, despite their mandarins being no better than Equiniti.

oneye14

By malkyh:
In my opinion, share certificate replacement is just a cash cow for a registrar. You can end up paying a small fortune for a replacement, even if you have never received it. Most articles of association of the companies state that certificates are posted at the shareholders own risk, as do most T&Cs.

When I posted above, it was a surprise to find just how many of us have the same point. Perhaps we could set up an "Equiniti Action Group" to find out how many of us are involved. There is after all gretaer effect in numbers.

- posted at the shareholders own risk: Even if true this can be challenged.

- Legal Argument: It is up to the Registrar to provide supporting evidence of postage, otherwise may be considered "mildly fraudulent". This places the onus on Equiniti and the criminal element which takes it beyond the small claims court.

- Vested Interest: It has been pointed out that Equiniti has a financial interest in not posting share certificates AND has admitted failing to retain records of such posting.

- Shareholder the Victim: The shareholder has not chosen the Registrar; their company has. My company {Trinity Mirror} persuaded the Financial Ombudsman Service that their service has no jurisdiction over Equiniti Ltd company Registrar. The shareholder remains unprotected. BTW {Trinity Mirror}has given any form of dividend for around 4yrs.

What do you think ?

fozzeh

First, I think this thread is old…but it does come up in the top three Google searches for “Banco Santander Equiniti”.

Next, good luck mate. I would look at getting an APCIM’s membership if you haven’t already got one

First point; companies AoA state this and you should be aware of this before becoming a shareholder and wanting a materialised stock. That’s the spiel you’ll get. Not much can be done to avoid it.

Legal argument; you will be able to get the info from them. They will give you the day, time of posting, the franking machine/dye number, how it was sent and where it was sent to. Then you have to move onto claiming from Royal Mail. Considering the admin charge is a basic £40 and the countersignature they charge can range from £30 to hundreds…you’re at a loss already (as the max claim from RM is <£50). You would need to have the gusto and time to look at this as a breach of discharging obligations via the Unfair Terms of Contracts Act 1999 or Unfair Terms in Consumer Contract Regulations 1999
Vested Interest; this one I will fully agree with!

Victim; first segement very true…but nothing you can do about it really! Outsourcing is generally a lot cheaper…pay peanuts, get monkeys!

Conclusion; go electronic! You don’t need certificates. Get away from the registrars ASAP regardless of circumstance and find a good stockbroker/share dealing service. The regostrars charge too much for a poor service. Equiniti are the worst, then Capita, then Computershare for the biggies.

miniFreear

I found this site having received yet another totally inadequate response from Equiniti. You have no idea how relieved I was to find that other people were having similar problems with them. Relief quickly gave way to despair again as it seemed that noone had really had their problems solved! I have given up telephoning after assorted misdirections but when I write I am sent a reply which shows that they have obviously NOT read my letters or looked at any of the information. There must be a regulatory body in charge of such companies. Who is it?

oneye14

miniFreear wrote: »

There must be a regulatory body in charge of such companies. Who is it?

Not that we are aware of ...see....
https://forums.moneysavingexpert.com/discussion/4028867
Posting #36

The Financial Services Ombudsman has recently confirmed that:-
- Not only Equiniti Ltd is not regulated but also
- Equiniti Financial Services Ltd and their employees are not regulated when dealing with share issues.

fozzeh

Sorry chaps...I really don't think that you would get away with quoting to the FSA that one of the biggest registrars in the country isn't regulated.

"Equiniti Limited and Equiniti Financial Services Limited are part of the Equiniti group of companies and whose registered offices are Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA. Telephone 0845 607 6838, if calling from outside the UK ring +44 121 415 7082. Company share registration, employee scheme and pension administration services are provided through Equiniti Limited, which is registered in England & Wales with No. 6226088. Investment and general insurance services are provided through Equiniti Financial Services Limited, which is registered in England and Wales with No. 6208699 and is authorised and regulated by the UK Financial Services Authority."

Their accounts and accountability is regulated...their actions and market dictation isn't.

vikmeldroo

Equinity: the worst service ever!!!
Website terrible: couldn't deal online ..had to phone 3 times (0845 number!), still not sorted. Eventually had no choice: had to deal by phone for which they charge me extra even it was no fault of my own!
Do NEVER deal with them!

EGibbs

I know this is an old post but I'm hoping someone can help me.

I along with many others am having trouble with Equiniti/Shareview.
I’ve got some old Dixons shares that I want to cash in. I need a new share certificate in my married name in order to sell them with a different less greedy company so had to send my old one off to them. I sent a covering letter with the certificate saying that I need a new one etc etc. Anyway, they replied saying that they hadn’t received my certificate & it’d cost £50 for a replacement!! I went a bit mad!! I said that they’ve definitely got the certificate as it was in the same envelope as the covering letter I sent that they’ve responded to so if they’ve lost it its their fault. They’ve obviously had it but are making out they haven’t so I cough up £50 which I won’t be. Woman said she’d get them to check it again & call me back in 2 days, guess what?! I looked online & theres something called the Equiniti scam where they claim to send people their certificates but don’t & then claim they’ve been lost in the post so the poor people have to pay the £50 fee for a new one.

Who I can complain to, I’ll take the fraudulent ******* to court if I have to out of principle. I know I should’ve sent it recorded post but even if I had they could still say they haven’t got it or lost it eh?! Grrrrrrrr what a totally awful company.:mad::mad::mad: