US Shares Warning

Caroline_a · 20 April 2017 at 8:24PM

meer53 wrote: »

This could happen to any shares, UK or US.

Really? So if you just left your UK shares without selling them (but watched their price, etc) then the state would grab them?

firefox1956 · 21 April 2017 at 9:11AM

I wonder if the OP is getting a bit confused with the term 'escheatment' ??
A Google search brings up quite a few explanations of the term is one & its associated articles may help............
http://www.telegraph.co.uk/finance/personalfinance/investing/shares/10560431/Escheatment-what-it-means-and-how-it-affects-UK-shareholders.html

Caroline_a · 21 April 2017 at 10:00AM

Not quite sure why you think I don't understand the term. I too had Googled extensively and found out about it. However - if you look back, you'll see that I'd had no warning or correspondence from either the holding agents or the state. This was my point! The shares as far as I was aware were sat with the holding agent, awaiting a time when I would sell them!

As an update, I have now applied to the state to have them returned to me, and have sent off all required documentation for my claim. There is no indication how long this may take, but in the meantime, the shares have gone up another dollar!

meer53 · 21 April 2017 at 9:14PM

Caroline_a wrote: »

Really? So if you just left your UK shares without selling them (but watched their price, etc) then the state would grab them?

Depends on what happens to the company, you can still lose your shares.

Caroline_a · 25 April 2017 at 6:54PM

Update time! I had an email today to say that my shares are being returned to me!! They haven't been sold, so are all still intact, and to make things even better they have gone up in value whilst this was going on! Happy days! It's happened a lot quicker than I thought as the articles in the Telegraph indicated that it would be many weeks!