Have your say on government e-petitions

Revise Rule 135 to stop administrators from taking fees out of client assets

Submitted on Thursday 21st June 2018

Published on Wednesday 27th June 2018

Current status: Closed

Closed: Thursday 27th December 2018

Signatures: 2,585

Tagged with

England ~ Individuals ~ Money ~ UK ~ Wales

Petition Action

Revise Rule 135 to stop administrators from taking fees out of client assets

Petition Details

On the collapse of a stock-broker, this rule allows administrators to take fees out of client assets / money held in “ring-fenced” accounts. A conflict of interest arises between returning assets to clients in a timely fashion and the administrators' corporate motivation to maximise fee income.

Additional Information

Individuals have invested entire life-savings via ISAs and SIPPs under the assumption that their assets / money are ring-fenced and protected.

Revise Rule 135 of the Investment Bank Special Administration Rules (England and Wales) 2011 to preserve the sanctity of ring-fenced accounts and prevent a break-down of the trust in the UK financial system.

The FSCS, which is funded by a levy on financial institutions, must cover any and all costs incurred in returning ‘ring-fenced’ assets to clients.


You can't sign this petition because it is now closed. But you can still comment on it here at Repetition.me!

Have your say on this petition!

comments powered by Disqus

repetition.me is a Good Stuff website

18.207.163.25 Fri, 29 Mar 2024 10:12:40 +0000