SHOCKED - broker executed trades, but missed bookings in cash statement

System

Principal???

dunstonh

Or you can just use the regulated complaints process free of charge. Although if the firm are already honouring the original prices, then there is no damage done.

atush

if you invest into single name stocks. It can make a 30k difference.

if you invest in singel stocks, you could lose it all- not just 30K

bowlhead99

Economic wrote: »

Principal???

I've corrected the misspelling of 'principle' if that was what the four question marks were for.

If instead you were curious why I'd use the term 'principle' at all:

- the OP wouldn't be taking them to court for an actual practical financial obligation as he has not suffered any loss.

- so the purpose of pursuing them with the help of a lawyer and presumably a court, is not to enforce specific performance of the contract (because that has already occurred), and not to get a financial result (because he has already had the correct financial result);

- so it must be because he wants punitive damages or some sanction to cause the broker some extra work or cost on a point of principle.


His principle presumably being that it is scandalous that a broker should steal your money and only put it back when caught red-handed, and therefore they need some punishment or disincentive to stop them doing it again to him or someone else.

He won't be able to prove that the broker is deliberately engaging in a practice to steal from or defraud their customers (and only refunding those customers who notice the 'error'), because he doesn't have any evidence of that happening, only his supposition. That's why no-win no-fee is the only way he could practically pursue it without great cost, because there won't be a win and he won't want to pay legal fees.

Except, maybe he doesn't mind a legal bill, if it will at least bring these scoundrels to account. On the 'principle' of not letting badguys get away with stuff...

george4064

Which investment platform was it?