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Financial Products & Services / BuyandHold.com
|Subject: Response from BuyandHold||Date: 4/18/2001 7:37 PM|
|Author: mac750||Number: 1355 of 4957|
Here is the response I received via e-mail today from BuyandHold:
Dear Mr. Rosa,
Thank you for contacting BUYandHOLD. I appreciate the opportunity to respond
to your email.
Currently, BUYandHOLD Securities Corporation has approximately 210,000
accounts. We remain highly optimistic about the future of our firm as we are
in discussions with our investors to obtain the additional financing needed
for us to reach profitability. Although this funding has not yet been
attained, these discussions are positive and we are anticipating a positive
In the event of the firm's insolvency, BUYandHOLD Securities Corporation is
a member of SIPC (Securities Investor Protection Corporation). SIPC provides
protection in the event of losses resulting from a brokerage firm's
insolvency or liquidation. SIPC provides protection of up to $500,000
($100,000 of which covers cash balances). If BUYandHOLD Securities
Corporation were ever to become insolvent, each customer's account would be
protected up to $500,000 ($100,000 of which covers cash balances). Customers
would then have the option of either transferring out their shares to an
outside brokerage firm with no additional charge or to have their shares
issued to them in certificate form. You would be notified as soon as
possible if the situation did arise.
We thank you for your continued support and do consider you to be a valued
customer. We look forward to assisting you in reaching your long term
If you should have any further questions, I encourage you to contact me via
email (firstname.lastname@example.org) or at 1-800-646-8212, Monday through Friday,
8:00 am to 6:00 pm, EST.
Mary Ellen Dunn
BUYandHOLD Securities Corp.
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