With concern mounting over the legal ownership of your wealth in the US, where a judge actually decided that it is absolutely legal for a financial institution to dip into your ‘segregated’ account and hypothecate and re-hypothecate it or take it to the casino and gamble with it, and where you’re last in line for ‘your’ money in a bankruptcy, what about the Australian situation of CHESS?
Is stock held under CHESS in any shape or form subject to any of these criminal schemes and shenanigans by brokers?
Can we be absolutely sure that registered stock is not perverted and used as collateral whatsoever?
