Monday, July 24, 2006

How to Change your Stockbroker

Republished from January 2006.

Change your stockbroker – a.k.a. central depository agent (CDA) - by taking these steps to transfer a shares (CDS) account to a new broker.

1. Complete and sign CDS 4A and 4B and submit both to current and new CDA (all stockbrokers have these forms).
2. Sign account opening forms with new CDA.
3. Keep signed copy of security transfer forms for own records.

It can take one day for the new arrangement to be effective - if processed before 12 PM. Shareholders can also contact the NSE's business development department (info@nse.co.ke) or send complaints (compliance@nse.co.ke).

Also this week
- The Scangroup IPO will close on Friday, July 28.
- The Weekly Citizen reports that Charterhouse Bank will re-open on July 28.
- For the recently unemployed, here are Steve Pavlina’s 10 reasons NOT to get a job!

9 comments:

Anonymous said...

thanks

Anonymous said...

thanks

holy cow said...

Thanks for the info, some charge 2.1% i hear CFC does 2.0%

Anonymous said...

hi guys
was jst wondering, is there a way of appointing a beneficiary or a next of kin in these cds accounts, coz there is a possibility of death to the account holder.

BlueSwift said...

Nice info bankman,
Was wondering how I could transfer shares once owned by my late dad and now bestowed to me by my mum

pesa tu said...

Blueswift: you must file a Succession with a lawyer through the High Court, to be named a beneficiary then get the shares distributed to you.
Its a long process.

Anonymous said...

Hi
Merci pour tout (thanks for all) as usual.
and thanks for link to Steve Pavlina's blog!! - isn't that our ultimate goal? when you can make money while sleeping!!

Supuu said...

Bankelele, thanks for the infor. Quick question though...on Holy Cow's comment, are stock brokers allowed to charge more than 2.0%?

bankelele said...

Holy cow & Supuu: they either charge 1.8% or 2.1% (charge less for larger transactions valued over 100,000 i think)

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