Joint CSCS Accounts - The Rules?

[Catweasel]

Hi folks,

Second post and I guess second silly question, but it is one that is frustrating me.... Here goes ....

My wife has a number of GT Bank Share Certificates including bonus issues that she has had for a number of years. We have also applied for all the recent IPO's this year, around 50/50 her name and mine.

I would also like us to get involved in the secondary market and therefore was looking to open a CSCS Account to enable this.

My thoughts were to open a joint account that each of us would us to verify our individual share certificates and thereby pool our portfolio. This made good sense as we wanted to go to Zen Sec and enjoy the lower buy and sell commission rates.

I have contacted a number of brokers by email and over the telephone to establish if this is within the established CSCS rules and have been given a mixed response, over the telephone only never in writing. As far as I am concerned if it is not written down it is a rumour.

Some say that the name of the CSCS account and the name on the certificate must be the same. Others say that we can put our individually named certificates into a joint account? Which is correct?

I would also ask that if we do need to go for seperate accounts gan she transfer shares from her's to mine without attracting a sell and buy charge against her and myself?

Thanks in advance for any help you can give

[bello abiodun]

what i got from a broker i recently registered with,i think it might not be possible to do that.why?i ve got some shares on my babys name and planned to include her on my account but was told i just have to keep separate accounts becos the reg no is unique to individuals.i think we should ask more questions.

[charlyb]

Originally Posted by bello abiodun

what i got from a broker i recently registered with,i think it might not be possible to do that.why?i ve got some shares on my babys name and planned to include her on my account but was told i just have to keep separate accounts becos the reg no is unique to individuals.i think we should ask more questions.

What if you open a seperate account for her Or is it not possible?