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Why shoul I be asked to pay an insurance bond when selling shares...
Question
Why shoul I be asked to pay an insurance bond when selling shares - Posted by Johno
Answer
ANSWER 28th January 2012
Hi Johno,
You wouldn't (UK, anyway)!!
I would need more details but I have heard of this happening in a scam operation. Basically if you are holding shares in certificated form the scam is to ask for payment for insurance against your share holding being invalid.
In the UK if you have a certificate brokers will deal delayed settlement (T+10) so that the certificate can go through the system and be verified good delivery before the settlement (before you are paid).
With American certificates (sold in UK) these have to be de-materialised (turned into electronic form). This process will verify the holding, at which time the shares may be sold (not before).
If none of this applies please email me via contact page or join forum and start discussion.
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