LCA 0.00% 91.0¢ litigation capital management limited

When you submit the transfer form did you use your Commsec...

  1. 200 Posts.
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    When you submit the transfer form did you use your Commsec account number e.g. 0AC... in the Member account ID field?

    Because that is wrong, it should actually be PERNY.

    The process is basically Link Australia sub-register -> Pershing's CREST account -> Pershing's custody.

    So basically CREST is the transfer mechanism to get the shares to Pershing's custody but they will not be held in CREST ultimately.

    Also there is (most likely) no participant with the combination of participant ID and your Commsec account number as their member account ID. I say most likely because as I was informed it's essentially like BSB/Account # for cash transfers where if you happen to mess up the destination address it can be problematic getting things back. Just FYI but I think this is crazy to think that shares could just be lost this way...

    So either your shares are sitting in limbo with UK Link who you should contact and get a copy of your transfer form first to just confirm the above ([email protected]) and then you should just be able to email them to tell them the correct Member account ID "PERNY" - or maybe given it's taken this long they may have made their way back to Australia and you just need to start again. However I would recommend contacting Link UK first. Email seemed to be the only way to reach them, I tried calling a bunch of international numbers and was on hold for ages only to be hung up on in the depths of some BS phone system numerous times. Also they will take a couple of days to respond to each email at least.

    Given how BS and seemingly brittle this transfer system seems to be please double check everything, you don't want to lose your shares.

    Also once the CREST stuff is sorted with UK Link you will need to contact Commsec again and tell them your shares are now in Pershing's CREST account and from there after a couple more days they should show up in your international trading account.

    Hopefully this helps.
 
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