guild thanks for pointing this out, looks like comsec ‘administers’ these CDIA accounts and CBA does not guarantee them.
This raises the question what sort of margin games and proprietary trading is comsec engaging in and what other exposure to leverage does it have?
If the cash is actually visibly sitting there in the CDIA account then presumably it is not compromised in the form of collateral by comsec as was apparently the case at MFG.
And what, in the Australian banking context, does ‘administer’ entail?
