Excess of SIPC Coverage
The Securities Investor Protection Corporation (SIPC®) provides account protection up to $500,000 in value, including $100,000 in cash awaiting reinvestment. SIPC provides protection for brokerage firms against losses should a SIPC member firm fail financially and become unable to meet obligations of its securities clients. More information about the protection of account assets through SIPC is available at www.sipc.org. Pershing and Delta Equity are SIPC member firms.
In addition to SIPC protection, Pershing provides additional coverage from Lloyd’s of London in conjunction with other insurers. The excess of SIPC coverage provides protection for assets held in custody by Pershing (and its London-based affiliate, Pershing Securities Ltd.) up to an aggregate loss limit of $1 billion for eligible securities over all client accounts and a per-client loss limit of $1.9 million for cash awaiting reinvestment within the aggregate loss limit of $1 billion.
Neither SIPC nor excess of SIPC coverage protects against loss due to market fluctuation of investments. Pershing’s excess of SIPC coverage is provided by Lloyd’s of London in conjunction with XL Specialty Insurance Co., Axis Specialty Europe Ltd., Great Lakes Reinsurance (UK) PLC and Ironshore Specialty Insurance Co.
Please refer to the following link for details on Pershing’s account protection:
Pershing Strength and Stability
Since 1939, Pershing has been a leading provider of financial business solutions focused on the segregation, safekeeping, servicing, and reporting of client assets intheir custody. Please refer to Pershing’s Statement of Financial Condition for additional information.
Pershing’s parent company, The Bank of New York Mellon, has a capitalization of approximately $37.1 billion as of March 31, 2011, and holds $25.5 trillion in assets under custody and administration. Please refer to The Bank of New York Mellon’s website for current financial statements and reports.
- Understanding the Protection of Client Accounts
- SIPC Brochure
- Excess Account Protection
- BNY Mellon Section
- Pershing Section
Delta Equity is not a subsidiary or division of BNY Mellon Corporation or Pershing, LLC and has no relationship to either company other than offering clearing and custody services provided by Pershing to Delta Equity customers on a fully disclosed basis.