Edgar Filing: FCMI FINANCIAL CORP ET AL

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

FCMI FINANCIAL CORP ET AL

2. Issuer Name and Ticker or Trading Symbol
PARAMOUNT GOLD & SILVER CORP. [PZG]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

BCE PLACE, 181 BAY STREET SUITE 250

3. Date of Earliest Transaction (Month/Day/Year)
12/20/2010

(Street)

TORONTO CANADA, A6

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares, par value $0.001/share	12/21/2010		S		5,700	D	$ 3.21	17,595,300	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		3,270	D	$ 3.22	17,592,030	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		1,800	D	$ 3.23	17,590,230	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		6,700	D	$ 3.24	17,583,530	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		25,139	D	$ 3.25	17,558,391	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		9,670	D	$ 3.26	17,548,721	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		28,249	D	$ 3.27	17,520,472	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		31,357	D	$ 3.28	17,489,115	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		37,335	D	$ 3.29	17,451,780	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		38,100	D	$ 3.3	17,413,680	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		12,000	D	$ 3.31	17,401,680	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		3,924	D	$ 3.32	17,397,756	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		60,240	D	$ 3.33	17,337,516	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		26,778	D	$ 3.34	17,310,738	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		12,598	D	$ 3.35	17,298,140	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		14,300	D	$ 3.36	17,283,840	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		18,300	D	$ 3.37	17,265,540	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		10,000	D	$ 3.38	17,255,540	D ⁽¹⁾
Common Shares, par value $0.001/share	12/21/2010		S		5,540	D	$ 3.4	17,250,000	D ⁽¹⁾
Common Shares, par value $0.001/share	12/22/2010		X		1,300,000	A	$ 1.05 ⁽²⁾	18,550,000	D ⁽¹⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Common Share Purchase Warrants

$ 1.05 ⁽²⁾

12/22/2010

1,300,000

09/19/2009

03/19/2013

Common Shares

1,300,000

⁽³⁾

7,700,000

D ⁽¹⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
FCMI FINANCIAL CORP ET AL BCE PLACE 181 BAY STREET SUITE 250 TORONTO CANADA, A6		X
FRIEDBERG ALBERT FCMI FINANCIAL CORPORATION 181 BAY STREET TORONTO, A6 M5J 2T3		X

Signatures

/s/ Henry D. Fenig, Executive Vice President FCMI Financial Corporation		12/22/2010
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Mr. Albert D. Friedberg is the President of FCMI, which is owned by Mr. Friedberg and members of his family and controlled by Mr. Friedberg.
(2)	The Acquisition Price of the Common Shares in Table I and the Exercise Price of the Warrants in Table II are given in Canadian Dollars.
(3)	The Warrants were included in Units, each Unit consisting of one Common Share and one share purchase Warrant, purchased from the Issuer at a price of CDN$ 0.75 per Unit.
Remarks: Name and address of additional Reporting Person: Albert D. Friedberg, FCMI Financial Corporation, 181 Bay Street, Toronto, Ontario, Canada M5J 2T3. This Form 4 is the second of two Forms being filed by FCMI Financial Corp. to report transactions in the Issuer's shares effected in December 20, 21 and 22, 2010. Together, such forms comprise a single filing.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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