Following last year’s post on where to buy shares, an update is now necessary.
I have dealt with and experienced a variety of difficulties at some of the better stockbrokers and investment banks. Ultimately, it is inevitable that other shareholders will also encounter problems with their brokers.
And if their frustration reaches a point of no-return than they may choose to change their stockbroker or investment bank – aka central depository agent (CDA) – by taking these steps to transfer their CDS account to a different 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 a 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 (firstname.lastname@example.org) or send complaints (email@example.com).
Information from a paid advertisement of the Nairobi Stock Exchange