The mystery remains...!, page-13

If you have a Chess holding or Issuer Sponsored then no broker can play around with your shares. Any outfit that pools all the shares from its clients can lend them out, and that is why their brokerage rates are so low. Personally, I always make sure that my shares are held under my ownership and as Issuer Sponsored. That way, if my broker goes belly up (as brokers do from time to time) then at least I have access to all my shares and can trade using another broker at any time.