Answers to the 7 Most Asked Questions
- Who is not eligible for SIPC protections?
Most customers with cash and securities missing from customer accounts are eligible for SIPC assistance. However, SIPC's funds may not be used to pay claims of any failed brokerage firm customer who also is:
- A general partner, officer, or director of the firm.
- The beneficial owner of five percent or more of any class
of equity security of the firm (other than certain nonconvertible
preferred stocks).
- A limited partner with a participation of five percent or
more in the net assets or net profits of the firm.
- Someone with the power to exercise a controlling influence
over the management or policies of the firm.
- A broker or dealer or bank acting for itself rather than
for its own customer or customers.
|
|
 |
|
help
