Problem with US ETFs DeGiro

excitementcity

Hi all

Anyone have any issues trying to buy Any ETFs on any of US exchanges on DeGiro since 2018? I just opened an account last night but can't see any of the US exchange ETFs listed....I say something online on a Reddit thread about them not being available at the moment due to some new rules that came in about having to have the eft details in each country's language...anyone know anything about it?

excitementcity

Ok rang DeGiro and that's exactly the problem. None of the ETFs on the US exchanges are available....they obviously haven't got themselves sorted with the new regulations which sounds ludicrous sine they knew this was coming and no communication about it. The guy on the phone wasn't exactly helpful or apologetic...only says they're working on it and he can't say when they will be available. I said ok I can appreciate that but are we talking a year or a week....he said he has no clue but more likely the latter.

No idea now whether to close the account or wait....don't know if any other providers are having the same problem...

TheBigSpoon

It's already been addressed:

Corky1 wrote: »

Hi,
This week I had the following message from my uk broker

"New regulation being introduced on 1 January 2018 will affect dealing in some of your holdings.The new regulation requires that issuers of certain types of investments (known as ‘Packaged Retail Investment and Insurance Products’or ‘PRIIPs’) must publish a Key Information Document (or KID) if they are available to private investors.Without a KID, private investors will not be able to make any further purchases in that stock, although they can continue to hold the PRIIPs they already own. They can also sell at any stage."

This means all the dollar-denominated Vanguard non-UCITS ETFs will unavailable for purchase in Europe from 1st January 2018 because Vanguard are not providing KIDs for them.

I think nearly all the iShares non-UCITS ETFs likewise will be gone.

DeGiro told me they didn't know what ETFs they would be allowed to market and told me to check the website in January 2018

I haven't seen any specific announcements about this and I wondered what Boards.ie users knew about it, and in particular if they knew of any US ETF issuers who were going to provide KIDs ?

See the thread below yours in the investments forum...

topper_harley2

HEre is the existing thread https://www.boards.ie/vbulletin/showthread.php?t=2057822332 for clarity......

TheBigSpoon

topper_harley2 wrote: »

HEre is the existing thread for clarity......

Thanks for that, Boards didn't let me post that as this is a "new account" (i.e. my first post I guess?)

excitementcity

Cheers all. Obviously missed the earlier thread. Thanks for pointing me in the right direction

keane2097

Wouldn't expect too much from Degiro customer support on this as it appears to be up to the likes of Vanguard to either provide the necessary documentation or not.

excitementcity

Ok thanks for that. Thought the problem lu with DeGiro rather than Vanguard