Pershing is a member of the Securities Investor Protection Corporation (SIPC®). As a result, client accounts are protected up to $500,000, including a maximum of $250,000 for claims for uninvested cash awaiting reinvestment. For details, please visit www.sipc.org.
In addition to SIPC protection, Pershing provides coverage in excess of SIPC limits from Lloyd’s of London, in conjunction with other insurers*. The additional policy is valid through December 10, 2011. It provides the following protection for assets held in custody by Pershing and its London-based affiliate, Pershing Securities Limited:
An aggregate loss limit of $1 billion for eligible securities across all client accounts
A per-client loss limit of $1.9 million for cash awaiting reinvestment within the aggregate loss limit of $1 billion
*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.