Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1
SIPC protects against the loss of cash and securities – such as stocks and bonds – held by a customer at a financially-troubled SIPC-member brokerage firm.

True as far as it goes. At one time I had an account at a financially-troubled SIPC-member brokerage firm, and the account was much less than $500,000. I forget the details, but it took around a year to get the shares the firm was holding for me in street name (in those days). Fortunately I was not a day trader and was not interested in selling them, or I would have been screwed.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.