for opes affected members 2, page-90

"I understand the Chimeara Statement below..it says Beneficial Ownership passes to the "borrower or acquirer"
It doesnt appear to be Fraudulent or Misleading or Deceptive as is the Opes Representations"

I tend to agree...chimaera make it quite clear on their website that the stock lender looses title and the acquirer (borrower) gets ownership....wheres the following extract from the OP website says something entirely differently:

"What is equity financing?
Definition
Equity financing at Opes Prime works somewhat like a margin loan. Under an equity financing arrangement an investor lends listed equities against cash, with the listed equities used as collateral. The cash may then be reinvested by the investor to leverage exposure to the market.

The investor retains beneficial and economic ownership of the lent stock, including full exposure to dividends and corporate actions, as well as to market risk. The transaction may be reversed at any time. "

The same message was published in the OP 2005 FSG, brochures, presentations etc...and in communications with OP staff. Seems pretty cut and dry to me.