Steady on Scott, theyâve only just started kicking this can down the road!
Ahhhhhh, peer to peer lending, those were the days.
In the meantime, while the questionnaire is formed, could REITs be permitted in ISA to offsett the loss of some instruments?
A bit of âgiveâ to counter the âtakeâ?
Has anyone had any more information from freetrade on this? When can we expect them back?
Some of these securities like GSF and BSIF are not listed as complex investments on other platforms, so its confusing as to why theyâve been removed without much explanation
Had there been any update or timescale put on this yet?
I just want to confirm that Freetrade has to deal with some regulatory matters here before these shares are available again to buy. Freetrade takes such matters extremely seriously and is abiding with the requirements that the FCA stipulates for our protection.
The intention is definitely to make these shares (and possibly others) available once the right procedures have been put in place. I do not know exactly what date these shares will be available to purchase.
In my opinion, when Freetrade has more to say than
it will immediately share.
Again, to be very clear Freetrade is already working on this (the work is well on its way). There are several moving parts as it affects present and future product plans. Clearly by us asking if there an update yet is not going to speed up anything.
Once the lay of the land is 100% Freetrade will share the plans with the community.
cc. @DanLane
Good to know. I think the issue (at least for me) was the surprise removal, there doesnât seem to have been an official post or communication on the removal? So itâs caught at least me off guard and it wasnât clear why some but not other instruments were removed. Or why some were removed when there not marked as complex on any other UK broker (not that the FCA give a list) so the criteria seems confusing.
TRIG is still available for example despite their KID stating that it is only suitable for investors who are capable of evaluating the risks and merits of the investment.
NBMI uses the same wording. Itâs only for investors capable of evaluating the risks and merits of the investment.
But NBMI was removed and TRIG was not? Even though they state the same thing.
BSIF I can understand, as they specifically state it is not primarily intended for retail investors (though funny enough is available on other platforms without being marked ).
Not to say there arenât other factors in the decision. Itâs not like the FCA gives a list.
Thatâs is to say, nothing is particularly clear at the moment about what the actual situation is, and itâs been over a month. Do we need to avoid other investments which will be removed in the future and buy them elsewhere? Is it just a short term issue?
No communication = panic
Hope to hear from freetrade soon when they have all the info together
I guess you are allowed to panic whether or not there is communication
There was direct communication from Freetrade to people who had the relevant shares and they were informed that they would not be able to purchase again until procedures were put in place. If you did not have the shares then you can no longer âdiscoverâ them and correspondingly buy them.
Which is just slightly annoying as I now have shares living on another broker as freetrade removed them without notice before I could move them.
Theyâre all alone
Hopefully itâs not a difficult fix. Itâs just a quick questionnaire on other platforms
Any update on this? Trying to sell, but when I press the sell button, it shows me as having 0 shares (Apax Global Alpha) available. I actually have 100 as confirmed in the portfolio.
Have you got a trigger order placed?
Just following-up on TheRavenâs note, would be great to have an update on status indeed. Thanks!
PR
For anybody that still has an interest in this saga I enquired with Freetrade today if there has been any progress around the restrictions or if it would be resolved for the new tax year and the reply was âwe donât currently have any plans to remove thisâ.
Thatâs very disappointing
Freetrade lacks competence when it come to picking which investments are complex.
No other brocker I have checked with would put any of the Vietnam investment trusts in the complex sector. One of my investment on freetrade would be in the complex sector on a competent stock brokers. So it appears to be throw a dart attitude to picking what are complex investments.
Hargreaves Lansdowne has a list of complex (so called) investments each one has a questionnaire. You are not using up anyoneâs time you pass the questionnaire you can buy you donât you canât.
As an aside it includes bonds? I have always considered them to be the least complex investment.
Can we get an official line from FT on this please?
As suggested above, can you confirm there are no plans to introduce a suitability questionnaire which would allow clients to buy trusts like VOF, IHR, AEWU, BSIF, SHED etc again?
Iâd appreciate some clarity as Iâm weighing up whether to open a second investment Isa with another provider in April to gain access to a wider range of investments trusts.
Would be great indeed to have some visibility given the flow of new features added recently, as losing the ability to access Apax or Oakley or any other trusts for that matter which are not necessarily available with other providers was a key selling point to use Freetrade âŠ
PR
I noticed on the announcement about new stocks it mentioned a suitability test - Iâve just checked the stock I hold that was restricted (AEWU) and it now says âTo be eligible to buy this stock, you must answer a range of financial questions. This is because this stock is considered to be complex.â