The Equiniti Scam

Reaper

No, I'm not an accountant.

I don't think we are going to see eye to eye on this and as I can't really be bothered to get into a long running argument on the subject I'll just say my piece and leave the stage to you.

There is a small risk associated with having multiple share certificates in circulation in case somebody else tried to use it to sell shares they do not own. The level of that risk determines the premium. You believe it is tiny so the premium should be tiny, but those taking on the risk may not share that view.

It sounds like they use RSA as the counter party for the indemnity. You doubt they are passing on the money to RSA and think they are just pocketing the cash, but it really would not matter if they were. If they wanted to take the premium and insure the risk themselves then I don't see anything wrong with that.

As I say I don't believe they are doing that but even if they were it would only be an issue if they were charging an excessive premium. Since it appears they are willing to let you off the indemnity fee if you arrange your own I am unable to grasp why it has got you so agitated. If you think the risk is negligible and the premium ought to be negligible then go ahead and arrange your own indemnity with your own counterparty. Equiniti are being more than fair in allowing you to do this.

oneye14

Since it appears they are willing to let you off the indemnity fee if you arrange your own

If you think the risk is negligible and the premium ought to be negligible then go ahead and arrange your own indemnity with your own counterparty. Equiniti are being more than fair in allowing you to do this.

Are they ? I had no idea I could arrange my own.
Was this obtained off their website because there was nothing so helpful there last year.

Regardless - Thanks for your comment

Reaper

oneye14 wrote: »

Are they ? I had no idea I could arrange my own.

See post 9 and my PS in post 3. That's how I interpret it.

oneye14

Over the weekend I've checked.
At the start of this dispute over 14 months ago (or since) Equiniti hae not once mentioned own indemnity scheme.

However the whole point is somewhat irrelevent. The actual or legal argument is whether Certificates were lost or not originally sent out. Equiniti to date have not provided any evidence that Certificates were ever printed for despatch to shareholders.

It sounds like they use RSA as the counter party for the indemnity. You doubt they are passing on the money to RSA and think they are just pocketing the cash, but it really would not matter if they were.

I would have to disagree with you there. It has been suggested this area is subject to employee abuse (actually abuse by almost anyone) to pocket the money but not set up any form of indemnity scheme - alleged fraud in simple terms.
Equiniti has yet to address this, so we have asked to Police to do so.

oneye14

Equiniti Limited is only registered with the FSA (not authorised; it's registration is for anti-money laundering purposes only). Equiniti Limited is not a member of FOS, and so FOS cannot consider complaints about Equiniti Limited.
Generally, Equiniti Limited deals with all the registrar stuff, and Equiniti Financial Services Limited deals with all the sharedealing stuff.

Taken from thread
https://forums.moneysavingexpert.com/discussion/3028798

This is not quite true.
Checking correspondence, the FOS (Ombudsman' s office) stated they had a discretionary option to investigate, but decided not to upon reading letter from the firm. It is not clear what the letter contained or whether the firm is Equiniti or Trinity Mirror PLC, but considering an arrogant and offensive letter has just been received from the latter, an educated guess suggests the firm to be Trinity Mirror PLC.
That offensive letter will be dealt with soon.

oneye14

arrogant and offensive letter

It appears this is from Trinity Miiror Group Company Secretary who was, up until recently quite happy with an unresolved shareholder dispute. The allegations of issuing 'threats' shall be denied with a request for supporting evidence.

More on this soon

bigadaj

You now appear to be talking to yourself.

oneye14

You now appear to be talking to yourself

Talking ?

I'm posting in the public interest.....

BTW I don't like little old ladies being dealt with by control freaks...
Sly Bailey appears to have learnt nothing from the Leveson enquiry

bigadaj

Soliloquising?

oneye14

Soliloquising?

Negative -
How does that relate to posting in the public interest
And an ongoing criminal investigation