Change of address

[Nuraddeenh]

pls can anyone tell me the procedure to follow when u want to change ur address on ur cscs account.

[Avocado]

It appears you'll have to write to the Registrars of each stock you own. Some registrars have online forms to get this done. Or, you could ask a broker about how this could be done. Or, if you could list all the stocks you have in mind, you could get addresses and/or the relavant forms for effecting a change of contact addresses.
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[sophia]

I think you just have to furnish your broker with the details (your new address) and they will contact the registrars on your behalf.

Ciao!

[Avocado]

Originally Posted by sophia

I think you just have to furnish your broker with the details (your new address) and they will contact the registrars on your behalf.

You have Wrong Thoughts; shikena.
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[billions]

Originally Posted by Avocado

You have Wrong Thoughts; shikena.
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Her thought is not necessarily wrong....my broker contacted all d registrars for me when i changed my address.


I think dat the type of service one gets depends on ones broker and ur rship with them.

Cheers.

[lumidii]

Originally Posted by Avocado

It appears you'll have to write to the Registrars of each stock you own. Some registrars have online forms to get this done. Or, you could ask a broker about how this could be done. Or, if you could list all the stocks you have in mind, you could get addresses and/or the relavant forms for effecting a change of contact addresses.
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Nobody seems to know how to sort this out, once and for all. I've had to do several letters, and it ain't very tidy; time-wise, money-wise. One has to do a letter each and every time one buys a new stock, and there's a dividend or bonus; and then there has to be a follow-up just to be sure the message was received, and another follow-up to double check address change got effected. A very cumbersome arrangement one has to resort to.

My broker hasn't been too helpful in that regard, he's sounded a bit distant lately, and the vava voom has evaporated since the bears took over.

I can't understand why it should be this difficult to effect an address change in this day and age? Can the cscs online access facility not be configured to allow subscribers to update contact addresses? If this would raise security concerns - then the cscs should devise a means of going round this without the risks, perhaps a standard form/template with a few questions to verify authenticity, and a utility bill should sort this.

Forum Moderators: I haven't been able to use the quick reply buttons, is this peculiar to me?

[Avocado]

billions: It is necessarily wrong. Registrars are not allowed to change addresses by simple contact from your stockbroker. If they do, they're doing wrong; and it's illegal. Your signature is needed to confirm the transaction, that's if the registrars have a specimen of your signature. If they don't, some registrars will accept an indemnity from your stockbroker, but only to support a presentation of your signature; the surest is to send a banker's mandate.

lumidii: One way ahead that's helpful is to get write to the CSCS to change the address; once the CSCS does, the work of the registrars become a tad easier; and you don't have to do it for every new stock. I used this route: got the address changed at the CSCS, and then bought very small units of all stocks owned prior to the address change; this forces an update of address with the registrars.
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[billions]

Originally Posted by Avocado

billions: It is necessarily wrong. Registrars are not allowed to change addresses by simple contact from your stockbroker. If they do, they're doing wrong; and it's illegal. Your signature is needed to confirm the transaction, that's if the registrars have a specimen of your signature. If they don't, some registrars will accept an indemnity from your stockbroker, but only to support a presentation of your signature; the surest is to send a banker's mandate.

lumidii: One way ahead that's helpful is to get write to the CSCS to change the address; once the CSCS does, the work of the registrars become a tad easier; and you don't have to do it for every new stock. I used this route: got the address changed at the CSCS, and then bought very small units of all stocks owned prior to the address change; this forces an update of address with the registrars.
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Well, i remember that i was told(by my broker) to write a change of address letter to d registrars.This was taken to d registrars by my broker.

However, i hv not confirmed if d registrars acted on dis letters or not.I simply assumed that it must hv been done....maybe i will give them a call to know whatsup abt it.

Cheers.

[Avocado]

That's one way to do it; and writing letters to the registrars to be submitted by the stockbroker is susbstantively different from 'furnish[ing] your broker with the details (your new address) and they will contact the registrars on your behalf.' You had to write, you'd have to append your signature; the broker acts only as 'postman'.

The rules on changing addresses are to protect investors. Cumbersome, but fine.
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