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Is my FIN supposed to be secret?

Wednesday 23rd January 2002

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Q: My broker has asked for my FIN. He has my Shareholder Number, and wants the FIN so that the new common numbering system can be set up. Isn't the FIN supposed to be secret?

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.

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