I’ve read that BABA is about to be removed form ISA account because is not compliant with it.
I was planning on holding it long term and I had no problem with the fact that now it’s heavily in red.
Now well, it becomes a problem if it will be automatically sold meaning a loss. I would have never sold it right now, and if it happens I find absolutely unfair.
How will Trading 212 deal with this situation?
Where have you read this? I would be in same boat.
That doesn’t give any context. Could it be just that Alibaba actual shares are not compliant but in trading 212 its an ADR/holding company share you buy.
This screenshot is not from my chat, I found it on the Trading212 sub on reddit. I asked the same question on the live chat on the app because I’m worried but I’m still waiting for an answer.
I hope t212 have truly investigated this as I have an open query with HMRC regarding BABA as I think it’s official status is a little unclear.
It IS listed in HK
BUT the HKEX quotes the BABA listing in HK as ‘Secondary
HOWEVER that is not 100% conclusive it would be ISA ineligible.
The SEC filings quote the Ords in HK
So some data points to it be eligible. Some data points to it being ineligible.
Hence I’ve asked HMRC … weeks ago… I’m waiting on a reply
The ISA guidance states it must be ‘officially’ listed in HK… it kinda is. AND not on the GEM market. It isn’t. So by the absolute letter of the ISA guidance it would be eligible. *Probably
I would be really curios to see when and how Trading 212 will announce something about it or give a definitive answer. Because, for example, just removing it overnight wouldn’t be acceptable,
But are you basing it on something more than a screenshot of reddit?
Well, that man got the answer from someone that works for Trading212 in the live chat, not really only a rumor.
Yes but what was asked, and what was said after? For example it means very different things if questions was:
“Are the Alibaba shares listed in China able to be bought instead of the ADR that is available?”
“Why did I get a message about my Alibaba ADR shares being delisted from ISA account?”
We’ll check internally if any confusion was provoked during the chat above, however, I confirm that Alibaba (BABA) is eligible for ISA accounts & it’s not about to be removed.
Thanks a lot Martin for the clarification.
Martin could you check Vestas whilst you’re at it and see if that should make the grade?