Discrepancy between Stockbroker's statement and CSCS

[jayjay]

Hope everyone's doing well.
Last week I noticed that my CSCS statement viewed online had one less stock compared to the week before. I did not give a sale order to my stockbroker so was wondering how that could happen. I'm based out of the country and I've contacted my relationship manager but haven't heard anything.
Should I also contact CSCS directly?

[tonidol]

Originally Posted by jayjay

Hope everyone's doing well.
Last week I noticed that my CSCS statement viewed online had one less stock compared to the week before. I did not give a sale order to my stockbroker so was wondering how that could happen. I'm based out of the country and I've contacted my relationship manager but haven't heard anything.
Should I also contact CSCS directly?

I believe you can contact CSCS directly and they should be able to explain. You can reach them on 2666660.

Is there anyone in the house who has resolved an issue of this nature before? Kindly advise jayjay

[Yusuf]

Originally Posted by jayjay

Hope everyone's doing well.
Last week I noticed that my CSCS statement viewed online had one less stock compared to the week before. I did not give a sale order to my stockbroker so was wondering how that could happen. I'm based out of the country and I've contacted my relationship manager but haven't heard anything.
Should I also contact CSCS directly?

Jayjay,

All you need to do is to keep worrying and disturbing your stock broker. I had the same experience when my broker sold all my Japaul Oil and use it to buy Daar Communication claiming that I gave them mandate to do so. Upon investigation, I discovered that they used another person mandate who bears very close name with but different address to effect the sales. initially, they were picking my call (as I was not in the same location with my broker) but later my relationship officer refused picking my calls, text and E-mails too were not replied, then I called the MD who also refused to pick her call.

I was lucky one of this day when she gave her call to someone to answer my call that she's not around and I used that opportunity to get the number of the person I spoke with. With him, I was able to get their head of operations committement that my Japaul share will be replaced this coming week. I pray so.

So, keep trying as calling CSCS will not yield much result. The result you wanted is for your stock to be replaced and nothing else.

Keep trying. You can let us have the name of the Broker so that forum members who know someone there can give you a contact.

best of luck.

[MR. CEE]

Originally Posted by Yusuf

Jayjay,

All you need to do is to keep worrying and disturbing your stock broker. I had the same experience when my broker sold all my Japaul Oil and use it to buy Daar Communication claiming that I gave them mandate to do so. Upon investigation, I discovered that they used another person mandate who bears very close name with but different address to effect the sales. initially, they were picking my call (as I was not in the same location with my broker) but later my relationship officer refused picking my calls, text and E-mails too were not replied, then I called the MD who also refused to pick her call.

I was lucky one of this day when she gave her call to someone to answer my call that she's not around and I used that opportunity to get the number of the person I spoke with. With him, I was able to get their head of operations committement that my Japaul share will be replaced this coming week. I pray so.

So, keep trying as calling CSCS will not yield much result. The result you wanted is for your stock to be replaced and nothing else.

Keep trying. You can let us have the name of the Broker so that forum members who know someone there can give you a contact.

best of luck.

Yusuf, we might as well want to know the name of your broker. The relationship officer not picking your call might be understandable but for the MD to ignore calls of clients while he/she suppose to be resolving issues is really something to be looked into.

[ekpotek]

Originally Posted by MR. CEE

Yusuf, we might as well want to know the name of your broker. The relationship officer not picking your call might be understandable but for the MD to ignore calls of clients while he/she suppose to be resolving issues is really something to be looked into.

Yes I agree. I am sure the MD is aware of the problem, probably he is waiting for Japaul oil price to come down, below the amount they sold.

[bello abiodun]

great experiences am learning here.we here about malpractices by brokers i agree with other mems that you make the name of firm known.