Opes Prime operations were very different to Commsec nad other mainstream margin lenders. Under the agreement with Opes Prime it appears people who acquired shares did not have any title whatsoever to those shares, meaning that when Opes Prime went belly up they became creditors for the value of the shares.
My reading of the Commsec margin agreeement is that the shares you acquire on margin with Commsec are held by Commsec as your nominee, meaning if Commsec went belly up whilst they would have the right to deal with the shares in order to clear your margin loan any remaining shares or cash surplus from sale would still belong to you. That's my reading of it, I suggest if you have concerns you should contact Commsec to confirm that you do retain ownership and get them to respond in WRITING.
