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Ash, Solicitor
Category: Law
Satisfied Customers: 10916
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 ?
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 ?

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?
Ash and other Law Specialists are ready to help you
Customer: replied 2 years ago.

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


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

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