If the borrower has had to purchase the security in order to return it, then another market transaction has been created resulting in two entities (the clearing firm and the borrower) purchasing the same security to meet the same settlement obligation. Once the lending agent is notified of the buy-in, in many cases days after the buy-in, these transactions must be unwound and liability assigned. In addition, these increased volumes and securities in transit create significant potential corporate action liability for beneficial owners, custodians, and agent lenders.