"Was going to transfer all my Commsec shares to a Westpac broking account in my disgust. Then I found a letter I hadnt properly read in which Westpac had handed over Chess sponsorship for all shares to AUSIEX, which is a CBA non guaranteed subsidiary."
OK, I am slack for not immediately looking into this myself - but I thought someone here might have detail on some of these things already.
What does this potentially mean? what difference is it is AUSIEX is a CBA non guaranteed subsidiary?
Is there any question re. share ownership if say westpac broking or indeed comsec fell over?
Are there changes lately that may impact us in a meltdown of these brokers?
