Ann: Dividend/Distribution - SXY, page-12

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curiouswon

3,755 Posts.

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12/03/22

14:46

Post #: 60154905
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Originally posted by Papabuy: ↑

thx @curiouswon
I have thoughts exactly as you have described... I started my conversations with CommSec with "I am recording this conversation"
I rang them 10 times today to sort this mess out and all i got was answering machine messages for me to leave my Personal Broker Manager!...
They MUST KNOW and 4 sure have a real conflict of interest!......
They've forced people like myself to sell shares against our wills because they are too eager to apply their rules 2.5weeks too early.
And i was pro-active last week and rang them up asking what will happen at the end of the month ONLY IF the vote was Lost!!
I've told them when this dust settles , I'LL be taking my Business elsewhere! Along with ALL the interest they would have got from me, $47K\p.a.(interest only)
I'LL be at their throats on Monday Too!!
Plus I'm a TOP20 holder of SXY!!

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Hey @Papabuy
I hope your persistence pays off.
As an added suggestion, ask them if they are recording the conversation (they will be) and ask for assurance that they will keep the recording for compliance and legal purposes.
If you don't get response from your advisor, ask to be put through to their legal compliance team.
And follow up your messages to them even if not responded to with email(s) stating your case, their actions, their non-compliance with competition law (just state your case, let them work out if they are complying with all law), and the action you require (reinstate lending ratio and remove consequent margin call), and the potential consequences (a takeover of an ASX listed Top300 company may occur if your vote is not registered, and you will suffer financial loss irrespective).
Good luck

SXY Price at posting: $4.58 Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

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