Customers Must Be Given Information About Sipc:
The claims of all customers must aggregate less than 250000 the debtor must be financially distressed as defined in the law and the cost to the SIPC for direct payment process must be less than for liquidation through the courts. If the firm fails the customers get back all securities that are registered in their names and those securities that are in the process of being registered. Desktop Form Design Use White Space At or prior to account opening. . Customer when received by the Trustee. Member then such subsidiary must itself file SIPC-7. SIPC is a nonprofit membership organization and will protect the customers of its member brokerage firms that experience financial difficulties. And should not be consolidated in your SIPC-7. This information must be used to independently verify the customers identity within a reasonable time after account opening. Forms for the filing of customers claims are being mailed to customers...