I've posted about CIBC using investors shares to settle others shorts.... Now they have admitted doing this..... Has anyone recieved a fee for lending your shares? They insinuate that they are proviing a fee for this .... But I have never recieved such a fee, and have never been asked to lend my shares.

In the Investors edge agreement on page 11, item #10 , investors are aggreing to have their shares used without compensation or notification.

I contend this is fraud, missrepresentation, conflict of intrest and outright theft.

JMHO

CIBC Mellon to use EquiLend

2009-09-30 10:48 ET - News Release

Mr. David Bauer reports

CIBC MELLON ADOPTS EQUILEND TO ENHANCE EFFICIENCY IN SECURITIES LENDING TRANSACTIONS

Canadian Imperial Bank of Commerce's CIBC Mellon Global Securities Services Company will implement EquiLend's suite of services to encourage greater efficiency in securities borrowing and lending, and to increase revenue potential for its clients.

"EquiLend is a global standard in securities lending automation technology," said James Slater, senior vice-president and head of capital markets, CIBC Mellon. "By introducing EquiLend's AutoBorrow and Trade2O capabilities to our desk, securities borrowers can expect to enjoy more efficient lending through a familiar interface, and we expect this will drive higher lending volumes for our clients."

CIBC Mellon has relied on EquiLend's back-office solutions since 2007 and the company is expanding its partnership by implementing EquiLend's new services. This decision follows EquiLend's announcement that it has received regulatory approval from the Investment Industry Regulatory Organization of Canada to operate as an alternative trading system in Ontario.

Used by securities borrowers and lenders throughout the world, the EquiLend platform automates formerly manual trading and posttrade processes. With the adoption of AutoBorrow and Trade2O, CIBC Mellon is confident that it will improve efficiency for borrowers, reduce operational risks in securities lending transactions through greater straight through processing and increase the attractiveness of its clients' lendable assets to borrowers around the world.

CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce and BNY Mellon. CIBC Mellon Global Securities Services Company is a leading provider of financial services for institutions and corporations, providing superior asset servicing, multicurrency accounting, information delivery, securities lending and foreign exchange services in Canada. CIBC Mellon is part of BNY Mellon, which has $20.7-trillion (U.S.) in assets under custody and administration and more than $926-billion (U.S.) in assets under management