I am a Plan sponsor of a Profit Sharing plan
with a 401(k) feature for a small brokerage firm. The Plan is relatively
comlex including Mutual Funds (for non-vested monies), a self directed
brokerage account and our company's stock (privately held). We have some
concern regarding the certificates that are held for benefit of our Plan
participants in these self directed brokerage accounts.

We feel that we need to keep these physical certificates held in the
participants name because if the firm goes under we would have these
certificates and the Plan would be whole. We are protected by SIPC and we
have a fidelity bond for the Plan but how can we protect the Plan if the
firm becomes insolvent? Can we hold these shares in "street" name?