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Ash
Ash, Solicitor
Category: Law
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Experience:  Solicitor with 5+ years experience
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RE:UK bank moved to USA, then took 2 months to sell UK sharefunds,

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RE:UK bank moved to USA, then took 2 months to sell UK sharefunds, incurring a loss due to market moves.
Sell order placed Mar'12, should be immediate, took 2 months, sold in May'12 after market moved to create a loss. Emailed formal complaint to USA bank, last reply was July'13. Several questions:
a) is there a time limit to pursue a claim like this or can I still claim today ? Claim was delayed by (now complete) divorce process.
b) where should I go to pursue claim next steps ? UK or US legal, or UK or US regulator? Bank account was opened with Citigroup-UK, then moved to Citigroup-USA, now merged to Morgan Stanley USA. Clearly the delay in selling UK funds was due to USA computer systems unable to deal with this, hence is a direct consequence of the bank move UK->USA and mergers.
c) bank didn't direct me to a regulator in its reply. I believe they are at fault in this aspect, does that help me at all ?
Thanks.
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will help you.
Just to confirm this is a UK law problem?
Customer: replied 2 years ago.

I think so - I'm in UK, bank account was opened in UK, and funds are UK funds. Problem is that the UK branch of Citigroup closed and moved account back to US bank branch, without explicit permission from me. Does that change this, or can I deal with it as a UK law issue ?

Expert:  Ash replied 2 years ago.
Yes I think you say this is UK law as it was started in the UK. You have 6 years to bring a claim for breach of contract and 3 years for negligence under the Limitation Act 1980.
Can I clarify anything for you about this today please?
Alex
Ash and other Law Specialists are ready to help you
Customer: replied 1 year ago.

Or, happy to ask that as a separate second question...

Expert:  Ash replied 1 year ago.
Hi

I am just following up to see if there is anything else I can help with?

If you have not done so already might I ask you to rate my answer before you go today please, the button should be at the bottom of the screen.

If you need more help please click reply.

Alex

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