What are all of you execution only veterans going to do when the European Investment Services Directive becomes law 1 Jan 2005 and Clause 18.4 states you will no longer be able to deal execution only? Will you take advice?

The dealing charges are obviously going to increase and from the experience I had, prior to making my own decisions, I would rather sell up than have to get involved with another company of stockbrokers.

What about all this constant proof of ID to prove you're not a terrorist or money launder, with every account that you hold (even one's that have been going for years!)It was a pain before, but it is definately getting worse!

I deal on behalf of an investment club with Comdirect. I've been given until mid September to produce proof of ID for every member or they will close the account down. Also they are increasing the fixed fee charge from 7.50 to 12.50 per deal to cover the costs. (The only redeeming feature is - I didn't give them details of all our members - as two live overseas, and we only ever see them at the AGM, and one is in the Armed Forces, so may not be around for sometime!) That's not forgetting the Bank which wants to redo all the ID's of the signatories, and will need new ID confirmation of ALL the signatories even if we only change one of them. Ironically, the main ID I use is the same one as last time as I had not changed!!!!!

I can't think of a better excuse to change the account, painful as it will be producing ID for the next one. You will be able to edit the membership, which is always changing, - subject to the agreement of members. The only beneficiary of all members' details is Comdirect's marketing division.

Do you know where I can open an Investment club account with fixed dealing charges less than 12.50 a deal? (So far we have done 33 deals in July, but only because the charges are fixed at 7.50 - with the additional cost, we would definately do less deals)

(Still have a account with Barclays, which we are slowly reducing down, to a point where we can afford to move it, as the transfer charges are 15 a stock, or 17.50/1.5% which ever is lower for deals! - we only used to do about 20 deals a year because of the additional costs!)