Shares / Data Protection

neosi

Wondered if someone could confirm something for me

If you hold shares in a company, then your personal details shouldn't be given to 3rd parties and/or your details shouldn't be freely available for anyone to see.

Im asking as I received a phone call clearly from a scammer asking if I wanted to sell my shares at an inflated price as they were planning a company takeover.

Ive spoken to the company I have the shares with and also the company that administer the shares both of whom state they don't give these details out. Ive also spoken to companies house whom confirmed that at the most, the only details available would be a shareholders name and no other details.

I feel the Data Protection Act has been clearly been broken but haven't a clue how to take this further. Any advice most welcome.. Thanks in advance.

jimjames

I thought shareholder lists were publicly available but may be wrong. It was something raised when the animal rights protests were at their peak and shareholders were being targetted for their holdings in companies like HLS.

JoeCrystal

Jimjames is right. I just recently got a leaflet from a stock broker through post as I am shareholder in Modern Water saying that they will offer me FREE report on Modern Water saying I should read it. Of course, would I kindly sign up to their latest service such on news on newest AIM IPO and issues.

I treated them with hint of amusement before binning them. I considered them as small disadvantage of holding share certificates. All names and addresses who hold shares are available on Registrars, for small fees. I remembered coming across one RNS mentioning about complaints from shareholders about them and the response was that well, their names and details are publicly available to anyone who pay small fees. But I have no idea if that include phone number for example.

BUT, if you hold shares through nominee accounts then that should not apply in your case. I meant that you mention that a company administer your shares which suggests you do not hold certificates.

Cheers

Joe

AndyinLondon_2

I am pretty sure that under the Companies Act there is a provision for shareholder information (name and address) to be provided to third parties under certain circumstances. I can't find a reference to this at the moment but I will keep looking.

Is this a private limited company (Ltd as opposed to plc)?

AndyinLondon_2

I was thinking of Section 793 - but this relates to the company, who can effectively 'force' the nominee to provide details of the beneficial owner of the shares. This does not apply to third parties however.

Your name and address may appear on the register of members of the company, which may be how the third party have found it. If you are not ex-directory it is easy to look up your phone number.

When you say 'company that administer the shares' - do you mean a nominee account or do you hold paper certificates and are talking about the registrar?

JoeCrystal

I took a quick look at Companies Act 2006.

In 2006 Chapter 46, Part 8, Chapter 2, Section 116,

(1)The register and the index of members' names must be open to the inspection—
(a)of any member of the company without charge, and
(b)of any other person on payment of such fee as may be prescribed.

(2)Any person may require a copy of a company's register of members, or of any part of it, on payment of such fee as may be prescribed.

In Section 113, it mentioned that it just contain the names and addresses of the members. The dates when you became shareholder and dates when you no longer a shareholder. Phone number is not part of it though.

neosi

Thanks for the replys.. i guess i was wrong just assumed this sort of data wouldnt be available to any who wanted it. I do a hold paper certificates and it was the registrar not the administer as per my post that i had contacted. Thanks again for your help..