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hariboid

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hariboid last won the day on May 6 2019

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  1. @JamesIG, thankyou for the response. Since i'm leaving IG anyway, I won't engage further to explore why it is mostly doublespeak. And to say: 'customer satisfaction is an absolute priority' well, my experience has been the opposite. All I will say is that many of the cannabis stocks in question trade on the NASDAQ ffs. And you are in error, plenty of other platforms do allow clients to hold cannabis stocks across a range of markets. I have similar holdings with ii and Hargreaves Lansdowne with no issue.
  2. Disclaimer: I'm already shifting my portfolios out due to IG's moronic policies over REIT and MLP dividends and truly awful customer service. The latest genius move by IG. They will no longer allow clients to hold cannabis related stocks (although even more illogically Altria, Constellation brands and other megacaps that effectively own the companies in question are fine). Holdings have to be sold by May 27th. In my case this is Aurora, Canopy, Cronos, Hexo, CannGroup, Auscann. But what do I see on the opening page of the IG website? "GET EXPOSURE TO THE CANNABIS INDUSTRY" "TRADE CAN
  3. @Situation, it only got worse from there. I'm in the process of moving my portfolios out of IG.
  4. @Caseynotes, it started about 5 months ago - I got some elaborate and difficult to understand calculations for an MLP holding I had - EPD. But it's crept up and into US REITS just this last quarter iirc. Before that, dividends just came in as normal.
  5. Hi @Caseynotes Sure, but that's entirely lame. 1. If divi's need to be reclassified, do it in a way which isn't dumb and doesn't make clients lives impossible. Answer from IG - no answer 2. Investigating ways to abbreviate. When will those ways be implemented? No answer. How about an Interim solution? No answer 3. The reclassification - with statement or otherwise - does not automatically constitute an explanation. And the implementation, which is everything, is staggeringly bad. It doesn't matter if they are the third link or the seventh. Either deliver a
  6. Update: I sent Matt Stevens on the helpdesk the following email and also followed up with three specific questions What is my actual - final - payout for each stock? When is this insanely stupid 'project' going to end? Who has oversight of this at management level? Dear Matt, Many thanks for reaching out. Your message is appreciated. Honestly, I'd much rather this issue was resolved in a rational way so that I can continue to be a customer and build my portfolios on the platform. If it cannot then I'll have no choice but to move.
  7. @Angela11 @Caseynotes That's just the thing, James did not even remotely answer this question to any meaningful conclusion. I was passed back to the IG helpdesk who submitted an apology and then took five days to reply to my questions: What is my actual - final - payout for each stock? When is this insanely stupid 'project' going to end? Who has oversight of this at management level? The reply was: Thanks for your emails, and apologies for the delay in response. We have received some feedback from our brokers regarding the multiple dividends and contr
  8. @Tony82 Definitely isn't normal by any standard - whether basic accounting rules, common sense, or a commitment to decent client service. Honestly, the calculation IG now use is so long and complicated I have no idea what has been paid out or deducted. Thanks to @JamesIG someone from IG - Matt Stevens - has now reached out and tried to at least begin to address the lack of response and lack of clear answers. If I have to move my portfolios I'd at least like to make the decision based on logic and clear information. I've asked that the issue go beyond the customer service team
  9. @JamesIGIt certainly is, since I never mentioned UK Reits. I don't hold any of those. The tax on US REITS held within a UK ISA is tax free. And I do not believe the US takes any tax from the dividend either. So I continue to fail to see why the deduction. Could you direct me to the specific piece of tax legislation or rule change that would account for the new reduced payout? I also find it amazing that there isn't one capable and sufficiently empowered person within IG who can implement a non-terrible solution for this. Even more incredible that the curren
  10. @JamesIG Appreciate your thoughts and clarification. I was told by customer support, this was an ''ongoing dividend reclassification project.' To the question: 'when will this ongoing project be completed?' I received no reply from customer support. Despite several requests for one. I don't think that takes 40 years of experience. I can understand that if this is somewhat new - although US REIT dividends have been in existence for 20+ years and trade on the worlds biggest stock exchanges - there might be a few teething problems. But surely even as a first attempt, the 'so
  11. @JamesIG many thanks for chasing this up and coming back with some info! I think this reply from corporate actions is, frankly, extremely poor. Firstly, it does not justify 32 individual calculations to arrive from a single number to another single number. Secondly, the reduction in payout, as determined by this complex internal process, is not reflected by UK tax law for ISA's, as I currently understand it. Please do correct me on this if I'm wrong. Finally, and most tellingly I'm adding a screenshot of the same payout, from the same company (Realty Corp) at the same qu
  12. @JamesIG any update? I've still received no reply from customer service and meanwhile new dividends are coming in with the same crazy over elaborate calculations and reduced payouts...
  13. Thanks James, I'd really appreciate a resolution. I've made a png showing what IG have done for just a single payout for Realty Corp - an insane 32 calculations in total. And I have at least 20 different US Reits. When I contacted the helpdesk, they spoke to Corporate Actions who replied that I should just add everything up myself. Further questions by email about why the payment was lower, and who in management could get involved to sort out this ridiculous state of affairs have gone unanswered. I literally cannot get a reply.
  14. Nobody? Update: 32 individual calculations - subtractions and additions - for a single payout from Realty Income Corp. How can that even remotely make sense or be deemed acceptable customer delivery?
  15. Anyone else having this problem with some (not all) US shares? This quarter my ISA dividend payouts involved a 11 or 12 line calculation for each share and a drastically reduced payout (on stocks I haven't sold, and which have not reduced their payout) I've signed a W-8BEN form so it isn't that. I'm not getting any useful answers from IG helpdesk and, of course, a total blank from 'Corporate Actions' - whatever that means.
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