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Boojum
Posts: 24 Forumite
Can some share savvy person please enlighten me on the following point:
If I buy some US shares via a broker, and the broker holds the shares in escrow, will I see any share certificate or registration in my name, or will the shares be held in the name of the broker? In other words, is the transaction between me and the company or me and the broker?
clarification appreciated
Boojum
If I buy some US shares via a broker, and the broker holds the shares in escrow, will I see any share certificate or registration in my name, or will the shares be held in the name of the broker? In other words, is the transaction between me and the company or me and the broker?
clarification appreciated
Boojum
0
Comments
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Sorry - but why does it matter?0
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Because I have the unpleasant feeling that I might have been ripped off by a broker in a 'boiler house' scam, and I want to know if I can get my money back direct from the company's registrars.0
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Unlikely. Once you've paid your money you are more or less screwed. I've heard of people managing to stop payments going abroad when they have realised the next day, but that's as far as it goes I'm afraid. Motley fool has a good forum that relates to boiler house scams - search for the name of the 'company' you invested in and the name of the broker, or post if you can't find it.I'm an Investment Manager. Any comments I make on this board should be not be construed as advice, and are for general information purposes only.0
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