How can this be legal?

mum23boys_2

Hi all,

this is my first post and I'm desperate for some advice please.

A few weeks ago,I received a letter from Georgesons as I have moved and was being traced. I rang them and confirmed that I was the person they were looking for. They told me I had shares with Standard Life approx 400 and that if I wanted to sell them to get a solicitor to certify my name change and fill out the form they were sending and I would receive a cheque in about 6wks.

So off I pops to the solicicitors and does all the legalities and fills in the form (hubby checked it over) to say I want to sell them. Posted it.

Saturday I get a letter from Computershare saying they've sold 46 of my shares @ £2.632385 each totalling £121.08 and commision is £121.08 leaving me a total of Zilch!
Gets on the phone today to find out what the heck is going on and after being handed from pillar to post am eventually told that there's obviously been a processing order and they've put me down that I want to keep my shares and just sold 46 to get their commision.
Well I was seething but still in control and asked what happens now and if they sell them later I may lose money, girl was very apologetic and said she'd speak to a supervisor. Comes back on phone and says supervisor will call me back.
Gets a call back and was told I hadnt ticked any boxes according to the scanned document showing on the computer, which I had returned. I stressed that I know 100% very well I had and hubby had even checked it!!
She then told me that if no boxes are ticked that they just treat it that the shareholder is keeping them and claim their commision! WHAT?? they sell MY shares even on the basis that a legal document hasnt been completed!!
So my argument is I'm positive I ticked the box and also if I hadn't have done, how can they act on my behalf when I havent given them any instructions to do so!!!

I have asked for the form back but they will only give me a copy of the scanned form which is on the computer, the original is archived and I cant have it! Thats no good, I know what I put on that form and to me it seems somebody has cocked up and they're digging a hole.

Please could anyone advise & tell me what the heck I can do.

Many thanks!!

Bromley86

Well for one get a copy of the scanned doc. If the box isn't blank then you're sorted. If it is you need to decide if you believe that they doctored it prior to scanning (or doctored the scan). Both of those seem a little extreme for a solicitor to do.

BTW, I take it you didn't get a copy before you sent?

Nick_C

If you filled in the original in blue or other coloured ink, it may not have scanned your response.

mum23boys_2

Hi, thanks for your speedy replies!

Well i may have done it in blue but there wasn't anything on form telling me to use black ink & surely they should check all the relevant information has been scanned correctly?
Unfortunately I didnt photocopy it, which I know now I should have done. I'm wondering if I should call them back and get them to find my original form.

Biggles

In any event, £120 commission to sell £1,000-worth of shares is totally exorbitant, who is this Georgesons? How did they know you had shares? Didn't they tell you how much the commission would be?

mum23boys_2

Hi there,

They are used by companies who are trying to trace shareholders, in my case Standard Life. If i'd known they were going to mess me around like this I should have contacted Standard Life directly and save myself a lot of money.
I realised I would have to pay the commision but if what they're saying is true and the document hasnt been ticked (which i know it had) then how can they just take it upon themselves to decide what to do?
Surely a legal document HAS to be completed before anyone can act upon it, i'd have thought that it should have been returned to me.
All they have been bothered about is claiming 10% because they found me in the first place!

nilrem_2

TBH I find this amazing that they can do this and think they can get away with it, even though they have probably covered themselves legally if it happened to me I would feel that I had been scammed and robbed!:eek:

TBH I really do feel for you, have you considered contacting the Working lunch programme for advice on this or bring it to the attention of your MP?

SouthCoast

Is the firm registered with the FSA?

http://www.moneymadeclear.fsa.gov.uk/guides/complaints/making_a_complaint.html

mum23boys_2

Hi,

The company is worldwide so I'm guessing it's all legite.
I am going to complain though, as I know they have made the error. Then again its my word against theirs isnt it and they're not going to let me see my original form!
Crikey, they've got a good business going charging that much for just looking someone up on the electoral register!

Bromley86

If you take them to small claims court, they'll have to produce the letter. Likewise if you engage a solicitor to do it for you (although that'll cost more than you'll get back, so best ignored).

If you're willing to visit their offices it is possible that they'll show you the original.

Actually, thinking about it, the best course is to try to get them to agree to show you the document in their offices. If they fail to do that, make a complaint to the Law Society, which has the benefit of being free to you:
http://www.legalcomplaints.org.uk/home.page

I've been through a complaint with a different solicitors and the Law Society people were great.

BTW, I just reread your OP and you mention "how can they act when I haven't given them instruction". Presumably their argument is that by signing the form you have instructed them. Of course, there's the disagreement about whether your instructions were to sell or not, but that's a different matter.

Biggles

mum23boys wrote: »

The company is worldwide so I'm guessing it's all legite.
I am going to complain though, as I know they have made the error. Then again its my word against theirs isnt it and they're not going to let me see my original form!
Crikey, they've got a good business going charging that much for just looking someone up on the electoral register!

I'm not sure what they're charging you for. It's not for looking you up on the share register or the electoral roll, as they'd already done that whatever you decided. It's not for selling your shares, as they said you hadn't instructed tham to do that. So what did they charge you for?

It's certainly a shame you didn't keep a copy of the form, if they send you one you'll be able to see what you signed up to.