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What are Barclays Stockbrokers up to?
David Trigg
Posted: 15 June 2012 13:59:24(UTC)

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I've just received a communication from BSL 'Simplifying our legal structure'. Basically it seems that they want to close their sub companies e.g BSL and have everything under Barclays Bank. The booklet says that there will be no change in the nominee structure but also says that 'The only change will be that the company responsible for the safe keeping of your investments... will be Barclays Bank'. I telephoned them and asked who is ultimately responsible for the 'safety' is it the nominees or Barclays Bank. The person who I spoke to could not answer this and was very unsure saying that they had received a number of queries regarding this and that it was a 'very complex legal matter'.

Can somebody advise what is going on here as we all need to have our investment in safe custody. Grateful for all assistance but it would be useful if someone from Barclays could advise.
Matthew Charles Flinders
Posted: 15 June 2012 14:32:28(UTC)

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This may have something to do with the matter, Barclays stockbrokers have 'combined' with fidelity. I think they may have merged platforms into one big platform, the aim is to rival Hargreaves Vantage platform. So there is most likely alterations to all back office processes/structure.
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David Trigg on 15/06/2012(UTC)
Adrian Woodward
Posted: 18 June 2012 12:17:19(UTC)

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I am also chasing this down, so no advice given or intended
If I have this right Barclays are intending to change the way they hold cash held in stockholding accounts to be treated the same as if it were in a bank account. At present it is 'Client Money' and ringfenced i.e. yours. The intention is to change it to 'Deposit' money, i.e. their's, where there will a maximum of 85k cash covered by FSCS across ALL Barclays accounts.
Pretty useless if holding cash in ISAs or SIPPS
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David Chapman on 18/06/2012(UTC)
A Sick SIPP Owner
Posted: 18 June 2012 13:15:40(UTC)

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My consideration:
(I have a Barclays Stockbroker fixed period, guaranteed minimum return ISA)

Currently - the guarantee on the bond is BSL - so the 'investment ' is separate from my other barclays accounts.
And I'm still astonished that Woolwich stated that the investment is not secure enough to use as a repayment facility for a mortgage!

So - the new setup:
My bond becomes part of Barclays
The asset is then part of my assets held by Barclays
So - it is included in the £85,000 limit
It can be taken and used by Barclays to pay-off any debts they consider I have to them!

Result - I have adjusted my 'savings' so there is certainly under £80,000 the total savings/investments held with the barclays organisation.

Don't use the Barclays credit card either.

Not sure that the banks all understand the concept called risk avoidance!
I do!
However - my problem with the concept seems to mostly be trying to avoid being eased into the risk situation by the banks!

Posted: 18 June 2012 13:38:01(UTC)

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It would appear for larger sums there is no guaratee.Do we withdraw sums of over £85000?
Posted: 18 June 2012 14:20:49(UTC)

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The £85k FSCS protection refers to deposits only, so don't get this confused with any investments you hold.

Anything held in shares, unit trusts, fixed term investments (structured products) etc is not included in the deposit protection scheme.
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A Sick SIPP Owner on 18/06/2012(UTC)
Malcolm Clark
Posted: 26 November 2012 13:09:06(UTC)

Joined: 26/11/2012(UTC)
Posts: 1

On another top relating to BSL.

We hold Market Master accounts which produce useful quarterly reports, but for some reason they are unable to handle stocks denominated in Euros.

This means for Euro stocks they cannot print the yield, and on the Sector Summary the gross income field is left blank which means the total income shown is wrong.

Apparently this has been the case since the Euro was introduced and they still do not have any immediate plans to correct this.

Is anyone else annoyed about this?
Posted: 23 December 2012 10:20:42(UTC)

Joined: 30/09/2012(UTC)
Posts: 2

Dear Sir/Ma

We have direct providers of Fresh Cut BG, SBLC and MTN which are specifically for lease. Our bank instrument can be engaged in PPP Trading, Discounting, Signature Project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, Construction of Dams, Bridges, Real Estate and all kind of projects.

1. Instrument: Bank Guarantee (BG/SBLC) (Appendix A)
2. Total Face Value: Eur 1 MIN and Eur 5B MAX (Five Billion USD).
3. Issuing Bank: HSBC, London or Deutsche Bank Frankfurt or any Top 25 WEB
4. Age: One Year, One Day
5. Leasing Price: 6% of Face Value plus 1% commission fees to brokers.
6. Delivery: SWIFT TO SWIFT.
7. Payment: MT-103.
8. Hard Copy: Bonded Courier within 7 banking days.

john leeson
Posted: 24 September 2017 10:35:24(UTC)

Joined: 24/09/2017(UTC)
Posts: 1

The admin seems to be far from satisfactory /we have three separate accounts ....paper work has come in dribs and drabs and they seem to very difficult to talk to because there is still not a complete set of documents for the above 3 holdings
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