I once  had a  CIBC   mellon  account.... but I'm  sure  my  present  broker is  not  compliant  either.

 I have  done   hundreds  of  placements  over the  past  5  years   and  have  now  changed my proceedure  for  doing  placements.

I used to  just  call my  broker and  take a  piece of a  PP  and   fill in the  paperwork.....  sign  and  let  them   fill in the  appropriate addresses...... I seldom  do  this  now.

Now  I send a  cheque,  and  have the  cert and  warrant in  my  name...... I  hold  that   cert  till it  is  near  trading..... and I  never   send in the   wt. I usually  do  placements directly  with the  companies.

Fact  is   when   one  does a  PP  the   broker   asks  that  the  shares  be  registered  as a  global cert.....  burried in the  text  of  your   account  agreement  is  this  carefully  worded  acceptance  of   relinquisment  of  a personal certificate. To this  end the  house.... Your  brokerage  firm can use your  stock  to sell into the  market ( The  house  pro traders)  They  do not  need to  borrow  your  stock as  it  is allready  in   the  companies  name..... they  simply  owe  you  the  stock.

I have  often  wondered  why  shortly  after doing a  placement I will see  shares   sold on a  runup.... during  " My  hold  period" sold from the  same  house...... co-incidence..... riiiiiiight! The  4 month  hold  is a  4 month trading  oportunity  for the  house to trade  what  you  cannot.

I recall a conversation   with  my  former  CIBC  broker who  mentioned that  he  was  told by  head  office that  CIBC  had  7 million  shares on it's  books...... they  were  encouraging  the individual  brokers to  short the  stock. Trouble is,  this  broker  also  had a  very  large  SGR  position. He  was  very  pizzed to say the  least....

The  context  of this  was  when SGR was  trying to   raise  the  $20 million financing  last   year...... I wondered  why  the  price  was  not   specified at the  time.......As it  turned  out   it  ws to be   " Whatever the   market  will  bear"...... The  stock  price  immediately came  under  pressure.....  droping  from the  $1.40  range down to  $.90..... at  which  point the  placement  was  called off...

Could it  be that  CIBC  emaced a  huge  in house  short....  which is  still being   recovered...

Case in  point  look  at  NKW...... A million  share  short was  covered under mysterious circumstance..... There  wasn't  enough  shares   traded,  or  wts  exercised  during the  time  frame   this was  covered.. I reported this  to RS.... Nothing  came of  it... I thought  all transactions  had to  be  through  the   market...  or  at  least crossed  in  house.... This  never  happened.

Disclosure  and  enforcement are  in  short  supply  in the  Canadian   traded  stocks.....

I now   hold  my  certs at  home  where  they  are  safe  from  unscruplous institutions...... I  don't  trust   the  brokers  that  are supposed to be  acting  in my  best intrest..... I  feel they are  using  my   investments  to  bet   the  opposing   short side.

I particularly  do  not  trust  enforcement or  the  market regulators  to  enforce the  rules....... We the  little  guys are  playing   agaist the  house....and the  house  cheats .... and   has  enforcement   on their  side.

The  jr  resource  market  is by  far the  most  vulnerable  because  of the  frequent  PP required to  advance the  projects...... These   placements end  up  being a  rigged  game..... only  way  to  stop that  rigging  is to  hold the  paper in  your  own  hand.

Dave D