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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Can anyone take legal action agains force selling

Can anyone take legal action agains force selling

Go down  Message [Page 1 of 1]

sajeethk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
If broker selling without informing to account holder is anyone can take legal action against that forced selling ?

Give some ideas guys..

windi5

windi5
Moderator
Moderator
According to the SEC rule, B rockers can implement force selling, if not payments are received within 5 days. They dont need to inform the client. but we can file a fundamental case against SEC rule, i think.

sajeethk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
How broker select which share forced sell out of total PF without consulting the client. cos any procedure like last purchase sell first or profit share sell first.

windi5

windi5
Moderator
Moderator
I think all that leap the 5 days limit.

duke


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
If you can take legal action agains force selling then you should be able to take legal action against leasing companies when they take the leased vehicle when you don't pay them. Also you can take legal action against the bakery if they take back the loaf of bread given to you if you don't pay.

RIO

RIO
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@duke wrote:If you can take legal action agains force selling then you should be able to take legal action against leasing companies when they take the leased vehicle when you don't pay them. Also you can take legal action against the bakery if they take back the loaf of bread given to you if you don't pay.

More than that Duke...
If CEB disconnect your Electricity , SLT disconnect your land line & NWS&DB Disconnect your Water supply DUE to not paying on time,...here our retailers think they can go to Courts.....! What a thinking....! Very Happy

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@windi5 wrote:According to the SEC rule, B rockers can implement force selling, if not payments are received within 5 days. They dont need to inform the client. but we can file a fundamental case against SEC rule, i think.

i used to go through the posts or replies when your name is there, because i like your thinking style, but i think go can't file against broker or sec

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@sajeethk wrote:How broker select which share forced sell out of total PF without consulting the client. cos any procedure like last purchase sell first or profit share sell first.

What u should do is settle the brokers debt. So u can disscuss with the broker before he force sell and do the selling in the way in which u have minimum loss.

Investor99


Manager - Equity Analytics
Manager - Equity Analytics
Once the shares are bought the purchaser should make payment on the due date. If the purchase does not make payment the broker has the legal right to get full compensation. So the broker could force sell any of the shares the purchaser has in order to get the full compensation. If the purchase cannot pay he should inform the broker about it and should also tell the broker what shares could be sold. And it should not be the other way around as the purchase is the defaulter in this contract. I don’t think the purchase has the right to file a fundamental right case against SEC because once you purchase any share from the CSE your agreeing to the rules and the regulations of the SEC.



Last edited by Investor99 on Wed Aug 03, 2011 2:41 pm; edited 1 time in total

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Is there any provision between the two parties that some shares can be locked up to avoid such a scenario?
Can an expert enlighten us please?

RIO

RIO
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Kithsiri wrote:Is there any provision between the two parties that some shares can be locked up to avoid such a scenario?
Can an expert enlighten us please?

Yes you can lock your shares but if there is no other shares to be sold & recover the Broker DEBT, they can sell those in Lock Account with SEC approval (even so they ll not notify you before selling those as you have not abide by the rule of T+% settlement)

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@RIO wrote:
@Kithsiri wrote:Is there any provision between the two parties that some shares can be locked up to avoid such a scenario?
Can an expert enlighten us please?

Yes you can lock your shares but if there is no other shares to be sold & recover the Broker DEBT, they can sell those in Lock Account with SEC approval (even so they ll not notify you before selling those as you have not abide by the rule of T+% settlement)
Thanks.

ShareShares


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Having overcome credit issue and after going through a period of force selling due to formation of a credit bubble, if the authorities allow credit again that is not going to be good news for investments. Forming credit bubble again is bad news for CSE and retailers. Force selling may be absent because there is nothing much to clear.

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