Frequently Asked Questions

a.    Updating my Details

1. I have changed my Residential address/ email address/ telephone number. How do I instruct Peel Hunt to update the system?
   
   Please contact [email protected] who will be able to update the details that we hold for you.
   
   
2. How do I update my Bank account details for future payments from Peel Hunt
   
   Please contact [email protected] who will provide you with a Change of Banking details form for you to complete and return.  Please note on receipt, we will perform be a number of security checks before updating our payment system.

b.    Statements/Valuations

1. How often will I receive a Stock Position Statement?
   
   Currently, Stock Position Statements are sent by email monthly. If this changes, you will be informed
   
   
2. How often will I receive a Cash Balance/Transaction statement?
   
   Currently, Cash Balance/Transaction statements are sent monthly. You will not receive a cash statement confirming a nil balance unless there has been a change to the balance within the statement period. If this changes you will be informed
   
   
3. Can I request a duplicate copy of a back dated statement/confirmation?
   
   Yes, please contact [email protected] who can assist you with this.
   
   
4. How do I request an account valuation?
   
   Please contact [email protected] who can assist you with this.

c.    Third Parties

1. I would like to add another person to instruct on my account is this possible?
   
   Yes please complete the Third Party Mandate form and send by email to [email protected]
   
   
2. Can I arrange a payment from my Peel Hunt account to someone other than myself
   
   Due to 3rd party payment rules we are not permitted to pay funds to a bank account in any other name than your own

d. Bereavement

1. Who should I contact to notify Peel Hunt of a Bereavement?
   
   The Client Lifecycle Management team will be able to assist you in such matters.  Depending on the circumstances and where the estate sits within, we may not be able to share detailed account information or sensitive data.  Please contact the team via email: [email protected]

1. How do I understand the service Peel Hunt is supplying?
   If you would like to discuss the service, and the associated process, then please email [email protected]
   
   
2. How do I understand the risks involved with this service?
   During the account opening process, Peel Hunt provided you with a detailed summary of the product risks as part of the onboarding process. If after reviewing this at the time of receipt, or afterwards, there are additional questions then please email  [email protected]
   
   
3. Who do I contact to instruct a sale/purchase on my Peel Hunt account? 
   Please contact Matthew Fletcher, Director of Corporate Trading, via email [email protected] or telephone (+44 20 3597 8692 / +44 7895 205 582).
   
   
4. What is the commission rate I will be charged on Trading
   The standard commission rate is 0.5% of the gross consideration of the transaction. The gross consideration is calculated as no. of shares x price.
   
   
5. Will I receive a Trade Confirmation?
   Yes, you will receive a trade confirmation on the trade date from us. We will send the trade confirmation via email to the correspondence email address you provided as part of the account opening process.
   
   
6. What is the standard Settlement timeframe?
   The standard settlement timeframe for UK securities (excluding UK Government Bonds) is two days after the trade date (known as “T+2”). 
   Other markets may have different standard settlement timeframes to the UK (UK Government Bonds settle on a T+1 basis - i.e. settlement one day post-trade date).  Please note that in May 2024, the North American securities market moves to T+1 settlement as standard and that all North American stocks held as CREST Depository Instruments (e.g. Amazon) will then settle on a T+1 basis.
   
   
7. To what Peel Hunt Bank account should I arrange payment to following a purchase?
   Please contact [email protected] for confirmation of Peel Hunt Bank account details for payment.
   
   
8. How do I receive payment following settlement of a sale?Once a trade has settled, if you have so instructed us, we will remit the settlement proceeds electronically to the bank account details that you provided as part of the account opening process.

1. What is the commission rate I will be charged on Trading?
   The standard commission rate is 0.5% of the gross consideration of the transaction.  The gross consideration is calculated as no. of shares x price.
   
   
2. Is there a charge for Peel Hunt to hold stock in nominee on my behalf?
   Currently, we do not charge to hold your stock in our nominee (please note that, today, some overseas securities may incur a charge via our overseas agents). Should we decide to charge for holding stock in the future, you will be informed in advance, with no less than 10 business days’ notice in accordance with our Terms of Business (which can be found on our website: https://www.peelhunt.com/legal-regulatory/).
   
   
3. Do I receive Interest on cash held by Peel Hunt on my behalf?
   Currently, we do not hold cash on behalf of clients in interest bearing accounts.  Therefore, you will not receive any interest on cash held.  Should we decide to charge for holding stock in the future, you will be informed in advance, with no less than 10 business days’ notice in accordance with our Terms of Business (which can be found on our website: https://www.peelhunt.com/legal-regulatory/).

1. What is Consumer Duty and how does it impact me?

Consumer duty has been introduced by the Financial Conduct Authority to help increase public trust in the personal finance industry by raising the regulatory expectations on those who service retail customers.

Consumer duty adds to previous consumer protection regulation by demanding that those who service retail customers are “acting to deliver good outcomes for retail customers”.

As each firm and the services provided differs, each firm must consider how it can evidence it is acting to deliver good outcomes. And four outcomes must be scrutinised:

• Products & services: to evidence that the design of all products and services continue to meet the needs, characteristics and objectives of their target market
• Price & value: to evidence that that all products and services give fair value
• Consumer understanding: to evidence that all communications are understandable and understood.
• Consumer support: to evidence that all customers can realise the benefits of their product or service.

Peel Hunt has always strived to provide the best level of service to its customers and has in place policies and procedures designed to ensure compliance with Consumer Duty.

2. I am a vulnerable client, how can Peel Hunt accommodate me?

The Financial Conduct Authority definition of a vulnerable customer is “someone who, due to their personal circumstance, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care.” 

This is a wide ranging definition which encompasses the various circumstances our clients face.  As such Peel Hunt strive to understand the needs of our clients and provide them with the  necessary tools and support to enable them to receive the most from our service.

1. How do I make a complaint or am dissatisfied by the service I am receiving?
   In the event that you are dissatisfied or have a complaint with the service Peel Hunt is providing, please contact us at [email protected].

a.    Dividends

1. Are we able to place a dividend waiver on our holding?
   Yes, this can be instructed but on a dividend-by-dividend basis as, due to all client assets being held in a pooled nominee account, we cannot place this as an ongoing (evergreen) instruction.  Please contact [email protected] to discuss further.
   
   
2. Will I receive a tax voucher for my dividend payments?
   In April each year, you will receive an annual Consolidated Tax Voucher (CTV statement)for the prior tax year.  You will not receive a tax voucher for each individual dividend.

b.    Share Transfers

1. How do I transfer certificated shares to my Peel Hunt Nominee account?
   Please contact [email protected] who will provide you with a CREST Transfer Form for you to complete and return along with a copy of the share certificate(s). The team will review these documents and provide details of where to send the originals. On receipt, we will arrange dematerialisation with the Registrars and this usually takes 2 – 4 business days to process with CREST subject to the Registrars own processing times.
   
   
2. How do I transfer shares to my Peel Hunt Nominee account from another Broker?
   Please contact [email protected] who will provide you with a Broker Transfer Form for you to complete and return.  The team will liaise with the delivering broker using the contact details provided on the form to arrange the transfer on your behalf.
   
   
3. How do I transfer out shares held by Peel Hunt on by behalf to another Broker?
   Please contact [email protected] who will provide you with a Broker Transfer out Form for you to complete and return.  On receipt, we will liaise with the receiving broker using the contact details provided on the form to arrange the transfer on your behalf.
   
   
4. How do I request shares to be withdrawn from my Peel Hunt Nominee account into certificated form?
   Please contact [email protected] who will provide you with a Transfer out as Certificate Form for you to complete and return. Please note it usually takes 5-10 business days for the Registrars to process such requests and return to us the newly issued certificate for onward secure delivery to yourself.
   
   
5. Can I transfer stock held in my Peel Hunt Nominee account to my Spouse?
   Yes if your Spouse has an active Nominee account with Peel Hunt – if so, please complete the attached Nominee Internal Transfer Form.
   
   Please note, that where your spouse does not an active account with Peel Hunt, we can arrange for your spouse to be onboarded with Peel Hunt or we can  withdraw the shares into certificated form registered in your name and deliver to you the certificate, together with a stock transfer form, so that you can then send the Registrars.  Please contact [email protected] if you wish to discuss this further.

c.    Corporate Actions

1. Am I able to vote at Company meetings if my shares are held in nominee?
   Yes, any instructions to vote need to be sent via email to  [email protected], to be sent by the account holder not later than 72 hours prior to the meeting.  You will not receive notification, proxy forms or reminders for approaching company meetings.  Peel Hunt will not accept responsibility for any missed voting deadlines and it is your responsibility to contact us if you wish a vote to be placed on your behalf.
   
   
2. Am I able to attend a Company meeting if my shares are held in nominee?
   Yes, any request to attend an AGM in person need to be sent via email to [email protected] and a letter of representation can be provided in PDF format for you to take along to the meeting authorising your attendance and right to vote on your shares.  Peel Hunt will not accept responsibility for any missed opportunities to attend meetings and it is your responsibility to contact us if you wish to attend.
   
   
3. Will I receive documentation and information relating to Corporate Action events such as rights issues and takeovers?
   You will receive an email or letter (depending on your chosen form of communication) advising of any Corporate Action event, your entitlement and any instructions on how to participate.  You will not receive the direct circular or offer document from the Company.

1. Stamp Duty Reserve Tax, Other Financial Transaction Taxes and Withholding Taxes
   Stamp Duty Reserve Tax and other similar taxes will be included in the settlement value stated on the trade confirmation.  Dividend and Interest Withholding Taxes are deducted from any payment made to you.
   
   
2. Will I receive a tax voucher for my dividend payments?
   In April each year, you will receive an annual Consolidated Tax Voucher (CTV statement)for the prior tax year.  You will not receive a tax voucher for each individual dividend.
   
   
3. If I am tax exempt, am I able to receive this exemption through the nominee account?
   There are restrictions on what tax exemptions we are able to facilitate and so there can be no guarantee that an exemption you may be entitled to can be put in place.  It is your responsibility to advise Peel Hunt of any tax exemptions you believe you are entitled to during the account opening process and if we are unable to accommodate this, you will be informed at that time.

1. How do we assess the ‘fair value’ of our service?
   Fair value is a holistic test, and we take into account the entire service in assessing the value which we provide to demonstrate why the relationship between our fees and the benefits of our service is reasonable.
   As noted, one of the factors we take into account is our fees. Our fees for clients are calculated using a commission-based formula, based on market standard rates that we consider to be fair for similar services provided in the Investment Companies/Real Estate space. Such fees charged can vary according to several factors, which include, amongst other things, the size of the deal, performance on the deal, etc. – these are determined in each case in accordance with the facts relating to the specific transaction.
   
   
2. Where can I find out further information about any developments / how the firm deals with Consumer Duty?
   We will update all our clients with any developments materially affecting our service or any Consumer Duty information through our website.  We will make sure you have the information you need at the right time, in an understandable format.  When new information is available, we will communicate to signpost where it can be found. Our Investment Companies/Real Estate teams are also on hand to offer any support you need or answer questions you may have.
   
   
3. How can I contact the team to discuss the service being provided?
   In respect of any deal-specific queries relating to the service being provided, please e-mail [email protected] for the Investment Companies team and [email protected]  for the Real Estate team; otherwise, the firm is also contactable in the ways listed here - https://www.peelhunt.com/contact/. 

1. How do we assess the ‘fair value’ of our service?
   Fair value is a holistic test, and we take into account the entire service in assessing the value which we provide to demonstrate why the relationship between our fees and the benefits of our service is reasonable.
   In this regard, we do not charge any fees to the underlying retail customers in connection with a capital markets transaction where we are acting for the issuer/seller, noting that in such scenario the underlying retail customer would not be our client. In respect of other fees e.g. intermediary fees, the intermediaries are responsible for ensuring their own fees and charges also represent fair value to their clients. We can provide you with the information you need to understand and communicate how our services and associated fees provide fair value to our target market. 
   
   
2. How will we treat an underlying retail customer if an intermediary discloses/they themselves disclose that they are vulnerable?
   We will always treat any underlying retail customer who has been identified as vulnerable, fairly and appropriately. We will communicate in a manner suitable to their circumstances and any communication needs they may have, ultimately ensuring they are generally supported in an appropriate manner. If we identify the vulnerability, or your vulnerability is disclosed to us, we will record this and provide appropriate support that is required. This may include contacting you to check if additional information is required to aid understanding or find out if we need to change how and when we communicate.
   
   
3. Where can I find out further information about any developments / how the firm deals with Consumer Duty?
   We will update any Consumer Duty information through our website.  Upon request by an underlying retail customer (see contact information below), we will make sure you have the information you need at the right time, in an understandable format.  We will work with the issuer / seller, and any intermediary related, to the investment trust to provide Consumer Duty related information. When new information is available, we will communicate to signpost where it can be found. Our Investment Companies/Real Estate teams are also on hand to offer any support you need or answer questions you may have.
   
   
4. How can I contact the firm to discuss the service being provided?
   Please see the RNS release for the specific transaction which will detail the relevant contacts for further information; otherwise, the firm is contactable in the ways listed here - https://www.peelhunt.com/contact/.