Yeah, I hung in until after the end of the year that Aurelian was taken over and ended up with paper Kinross shares and warrants. Later on, had no trouble or delay in depositing them into my cash account and subsequently selling them.
Hower, there are differing stories on this, so it may depend on how liquid the shares are or something. I notice that it may be more time-consuming in the USA.
Interesting, ebear that you have folded your hand, largely. I have thought a lot about this and see a number of blog comments where individuals have sought re-assurance froms their brokers, etc about what the paperwork allows. Recently, there was a story around that Scotia had somehow switched clients to a margin account of some sort without the clients authorization. Sounds unlikely, and in talking to SDI there was a minor change in how trades could be made using funds yet to be settled, but other than that, they say just a rumour.
However, I think it all boils down to a matter of trust and confidence. Most small investors do not have the time or resources to meaningfully scan all the paper work associated with various types of transactions and accounts. In the event of a world-altering crash, all of these companies could lie or ride rough-shod over their clients' interests if if was a matter of the firm's survival. And Governments could upset the whole applecart in the blink of an eye regardless of laws or justice.
I guess if one is uncomfortable, one must do what it takes to become comfortable, at any level of one's securities knowledge.
O.F.
