hi guys,
have a dilema,bought stock a few weeks ago,sent cheque,noticed some 10 days later account not cleared,sent email enquiring,replyed saying cheque didn't clear.phoned bank couldn't find anything out,a few days later bank contacted me saying,the clearing house thought it was fraudulent,re-issue and it will be ok.that was about 10 days ago.went on line today to find my account is still in the red,sent mail,she replyed saying they only got cheque on wednesday and everything seems ok.
when i got home from work this evening there was message on answer machine for me to call stock broker,which i duly did.the guy informed me they sold my holding because cheque didn't clear.i asked why i wasn't informed sooner to resolve the problem,am i not intitled to some notice,his reply was he phoned me at 11.10 this morning,i explained i just walked in from work and was returning his call,he said he was following directors orders,and that what they decided,i asked for stock to be reinstated he didn't have atority.
i phoned my bank they dont know anything except funs are sti;ll in account,and theyed try and find out on monday as it was to late this evening.
Q1.can the broker sell my stock without giving notice.(theyre holding alot more than the value of this stock)
Q2do i have any recall.can i get my stock reinstated
Q3.is this a matter for the financial regulater.(not once did they contact me until i initiated it)
thanks in advance for any advise,i'm absolutly furious!!as i still owe them money as the stock devalued.
yob