What does this mean?
The protection of client assets
Your assets are held at a leading global provider of financial business solutions with approximately 1.7 trillion in global client assets as of March 31, 2018.
You will always be notified directly by Pershing (the custodian) of any transaction made in your account, whether it is a purchase or sale of a security, a deposit or withdrawal, or any changes in the account.
Securities Investor Protection Corporation (SIPC®) coverage[1]
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).
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
SIPC and the excess of SIPC coverage do not protect against loss due to market fluctuation.
1. Explanatory brochure available upon request or at www.sipc.org
1. Explanatory brochure available upon request or at www.sipc.org