Crest: don't be bullied by your broker

Article Abstract:

Crest is a new UK share settlement system which is being launched on Jul 15 1996. Most quoted companies will have switched to Crest by April 1997. Many brokers will increase charges especially when deal involve share certificates. A new three-day rolling settlement system will be launched in fall 1997 and it will be more difficult to use share certificates with this system. Brokers offer nominee services and charges vary. Investors could lose certain rights if they use nominee accounts.

United Kingdom, Securities industry

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Fidelity Brokerage: unresolved complaints

Article Abstract:

Fidelity Brokerage faces complaints from clients over problems arising from a new computer system which has failed to perform well. Clients have complained of delays in answering letters, money sent to the wrong accounts and sale proceeds that appear to have disappeared. Phil West, marketing manager from Fidelity, has stated that clients have not lost cash or securities due to these problems and that the system has been improved.

Management, Fidelity Brokerage Services Inc.

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