Is my Account protected?
Yes. Your account is protected by SIPC (Securities Investor Protection Corporation) www.sipc.org which protects securities and cash of client/investor account up to a maximum of $500,000 of which $250,000 may be in cash. Above and beyond SIPC coverage, our clearing firm, First Clearing maintains additional insurance coverage, currently through the Customer Asset Protection Company. Effective January 1, 2009, the additional insurance coverage will be provided through London Underwriters (led by Lloyd’s of London Syndicate) (“Lloyds”). For clients who have received the full SIPC payout limit, First Clearing’s policy with Lloyd’s provides additional coverage above the SIPC limits for any missing securities and cash in client brokerage accounts up to a firm aggregate limit of $1 billion (including up to $1.9 million for cash per client). In other words, the aggregate amount of all client losses covered under this policy are subject to a limit of $1 billion, with each client covered up to $1.9 million for cash.