I just got this email from Comsec, Did anyone else get this ?? i'm sure plenty here use them as their broker. I got some pennies from heaven, $88.22 to be precise, something about lack of disclosure on the contract notes
Dear Botkiller,
I am writing to inform you that some of the CommSec contract notes you were sent from 1 August 2010 to 13 February 2014 did not contain all the relevant information required under the ASIC Market Integrity Rules, due to a systems issue.
Specifically, the contract notes did not disclose where both the buyer and seller of the shares used CommSec as their trading platform (Crossed-Only), or where the buyer or seller was another company in the CBA Group (Principal-Only).
We can assure you that this did not have any negative impact on our obligation to ensure your trade received the best purchase or sale price, and this systems issue has long since been rectified.
However, we acknowledge that when you are buying and selling securities, it is important that you have all the information which is relevant to you. Because this information was omitted in the contract notes set out in the table below, we have decided to refund that portion of the brokerage charged where CommSec was buying or selling for another company in the CBA Group, even though it was permitted to charge this brokerage.
Column 1
1
We will do this by crediting this amount to your linked settlement account by 19 December 2014. Unless you need to update your details, there is no action required.
To change your linked settlement account details, please download, complete and return the Direct Debit/Credit request form by 10 December 2014.
If this payment fails, we will notify you in January 2015.
If you have any questions or concerns about this email, please call 1300 133 914 [Mon-Fri 8.30am - 5.30pm (Sydney time)] or email us on [email protected]
CommSec remains committed to full disclosure and providing you with the best online trading service.
Yours sincerely,
Brian Phelps
General ManagerWrite your reply here
