If the holder of the stock savings plan dies, the bank must immediately terminate the plan and transfer the securities to the real estate securities account until instructed by the heir. These instructions should be executed in a reasonable amount of time. The AMF mediator argued this point in his monthly report.
AMF mediators regularly intervene in disputes between consumers, investors, savers or companies and banking institutions, issuers or financial intermediaries. His area of expertise covers several aspects of financial transactions, including:
- Managing employees’ savings accounts.
- Maintaining a securities account;
- Financial management ;
- Marketing of financial products.
Execution of stock market orders is also included in that area of expertise. Marielle Cohen-Branche mentioned this in her dashboard last month.For current AMF mediators, banks are always Promptly process sales instructions for heirs of securities accounts..
An unusually long processing time reminder
Every month, AMF mediators prepare a report on public service activities. At the beginning of June, Mariel Cohen Blanche was absorbed in the story of PEA inheritance, which had been treated for over a year for no good reason. The mediator recognizes that this unnecessary delay is “especially disappointing”, even if it does not actually harm the heirs of the securities account.
On the contrary, the latter benefited from it, which is exceptional in this kind of situation. According to the description of the establishment in question, the securities account going to the heir will give her 117 company shares worth € 3,676.14 in September 2020, with an additional cash amount of € 41,322,32. The bank sold the securities in July 2021, a few months after receiving instructions from the heirs.
The sale price will be 5,731.24 euros.The heir finally received 46,615.59 euros, that is, payments over 2,000 euros Compare with what you can claim if the title goes on sale in September 2020. Even if this delay is beneficial to it from a financial point of view The mediator called to order the facility in question. The service believes that such an operation is not particularly complicated and can be done in a reasonable amount of time.
Intuitive results after waiting for a long time
In the story Marielle Cohen-Branche told,
importantThe negligent facility has not received compensation or a claim for compensation from the heir.
An additional 2,000 euros generated by the sale of securities seems to have squeezed the balance. In addition, the applicant did not urgently need cash while waiting for a long time.she Therefore, the loss of opportunity could not be justified. That would have been harmful to him. On the contrary, the waiting rise in stock prices was in favor of it.
Despite all, the AMF mediator finds the heir’s approach justified. After his father’s death, he asked the bank to sell the securities he had in his father’s stock savings plan, which died in September 2020. The establishment was waiting to announce the sale of shares until July 2021.
The heirs reopened the bank in September 2021 and the latter transferred sales to a bad notary office in November 2021. She grabbed AMF’s intermediary after these multiple twists. This intervention allowed us to pay the notary’s office account in February 2022.