Securities Lending / ISA

Hello All

I’ve read the threads regarding the changes to T&C regarding the lending out of users’ holdings.

Can someone from 212 just confirm that this will not be the case for holdings that are ISA wrapped?

Thanks.

It won’t. T212 have confirmed that this is not allowed.

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Yes, saw that Donald_Duck - thanks.
Signing up for an ISA, the standard 212 T&C have to be accepted, but there’s no mention of any ISA wrapper exclusion to the securities lending in either that document or in the supplementary T&C for the ISA - meaning you’re still effectively agreeing to the lending to shorters by accepting both T&C sets.

You reckon T212 would go against the FCA by lending out securities from your ISA?

Me neither. Sounds like a ticket to massive fines and eventual insolvency.

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The HMRC guidance is unusually explicit https://www.gov.uk/guidance/how-to-manage-an-isa-investment-fund#stock-lending - see the section on stock lending.

We will not include any holdings in an ISA in the stock lending program.

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Got it - thanks Nick. Just wasn’t sure as the T&C don’t indicate this exception.