Comments on: What happens to your money in a brokerage account if the broker goes bankrupt? http://financial-stocks.net/bankruptcy/2009/05/what-happens-to-your-money-in-a-brokerage-account-if-the-broker-goes-bankrupt/ live at ease Mon, 26 Jul 2010 18:29:55 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Don E http://financial-stocks.net/bankruptcy/2009/05/what-happens-to-your-money-in-a-brokerage-account-if-the-broker-goes-bankrupt/comment-page-1/#comment-312 Don E Tue, 09 Jun 2009 09:06:24 +0000 http://financial-stocks.net/bankruptcy/2009/05/what-happens-to-your-money-in-a-brokerage-account-if-the-broker-goes-bankrupt/#comment-312 You should check to see how much you have lost and make a decision based on how your stocks are doing and what you are invested in. You should check to see how much you have lost and make a decision based on how your stocks are doing and what you are invested in.

]]> By: What?!? http://financial-stocks.net/bankruptcy/2009/05/what-happens-to-your-money-in-a-brokerage-account-if-the-broker-goes-bankrupt/comment-page-1/#comment-311 What?!? Mon, 08 Jun 2009 02:20:34 +0000 http://financial-stocks.net/bankruptcy/2009/05/what-happens-to-your-money-in-a-brokerage-account-if-the-broker-goes-bankrupt/#comment-311 The short answer.... I would. Your accounts are supposed to be insured up to 500k by the Securities Investors Protection Corporation (SIPC). Securities brokers are not supposed to commingle your funds with their operating funds (unlike banks). They are comparable to the FDIC, but unlike the FDIC, the SIPC does not guarantee against loss in value, or against theft and fraud. They just guarantee your securities if the firm become insolvent. And like the FDIC, if your firm goes bust, it may take some time to recover the securities from that insurer. The short answer…. I would.

Your accounts are supposed to be insured up to 500k by the Securities Investors Protection Corporation (SIPC). Securities brokers are not supposed to commingle your funds with their operating funds (unlike banks). They are comparable to the FDIC, but unlike the FDIC, the SIPC does not guarantee against loss in value, or against theft and fraud. They just guarantee your securities if the firm become insolvent.

And like the FDIC, if your firm goes bust, it may take some time to recover the securities from that insurer.

]]> By: The Old Guy http://financial-stocks.net/bankruptcy/2009/05/what-happens-to-your-money-in-a-brokerage-account-if-the-broker-goes-bankrupt/comment-page-1/#comment-310 The Old Guy Fri, 05 Jun 2009 08:30:13 +0000 http://financial-stocks.net/bankruptcy/2009/05/what-happens-to-your-money-in-a-brokerage-account-if-the-broker-goes-bankrupt/#comment-310 Your money is insured by SIPC (Securities Investors Protection Corporation) in an amount up to 500,000 per account, but most brokerage firms carry additional insurance that protects each account up to one million dollars. In reality, most brokerage that have filed bankruptcy have their accounts taken over by other brokerage firms and the account loose nothing nor have there been insurance claims. Your money is insured by SIPC (Securities Investors Protection Corporation) in an amount up to 500,000 per account, but most brokerage firms carry additional insurance that protects each account up to one million dollars.

In reality, most brokerage that have filed bankruptcy have their accounts taken over by other brokerage firms and the account loose nothing nor have there been insurance claims.

]]> By: eddie http://financial-stocks.net/bankruptcy/2009/05/what-happens-to-your-money-in-a-brokerage-account-if-the-broker-goes-bankrupt/comment-page-1/#comment-309 eddie Tue, 02 Jun 2009 13:23:13 +0000 http://financial-stocks.net/bankruptcy/2009/05/what-happens-to-your-money-in-a-brokerage-account-if-the-broker-goes-bankrupt/#comment-309 they get to keep your money they get to keep your money

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