Wednesday 23rd January 2002
|Text too small?|
A: You are advised to keep your FIN secret but in this case your broker is trying to be helpful. The NZSE is introducing CSNs - Common Shareholder Numbers - so investors will have the same FIN & Shareholder Number for any shares you buy in New Zealand across all NZ registries. This will make life a lot easier for investors, especially if they own a wide variety of shares and/or use different sharebrokers.
Your broker needs your FIN to match with your Shareholder Number to apply for a CSN on your behalf. While brokers do keep Shareholder Numbers in their internal systems for registration purposes they do not keep FINs.
Your shares are completely safe and will be transferred to your new CSN. I have already applied for my CSN and it will make my life easier as I now only have to remember one FIN.
No comments yet
What is treasury stock?
Can you explain the term "split factor adjustment"?
What are imputation credits?
When is a company listed as CD (cum-dividend)?
Can I buy shares in my daughters' names?
What is an IPO?
What do bid/offer and buy/sell mean?
What does 'Div cps' stand for?
When do shares go ex-dividend?
What is a 'dividend yield'?