What does this mean?
The protection of client assets
Pershing is a member of the Securities Investor Protection Corporation (SIPC®)[1], which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash).
Excess of SIPC Coverage Led by Lloyd’s*[2]
In addition to SIPC protection, Pershing provides coverage in excess of SIPC limits from certain underwriters at Lloyd’s, in conjunction with another commercial insurance company.
The excess of SIPC insurance program is valid through February 10, 2019. It provides the following protection for Pershing LLC’s global client assets:
- An aggregate loss limit of $1 billion for eligible securities—over all client accounts
- A per-client loss limit of $1.9 million for cash awaiting reinvestment—within the aggregate loss limit of $1 billion
1. Explanatory brochure available upon request or at www.sipc.org