Who is not eligible for SIPC protections?
Most customers with cash and securities missing from customer accounts are eligible for SIPC assistance. However, SIPC’s funds may not be used to pay claims of any failed brokerage firm customer who also is: • A general partner, officer, or director of the firm. • The beneficial owner of five percent or more of any class of equity security of the firm (other than certain nonconvertible preferred stocks). • A limited partner with a participation of five percent or more in the net assets or net profits of the firm. • Someone with the power to exercise a controlling influence over the management or policies of the firm. • A broker or dealer or bank acting for itself rather than for its own customer or customers. 5. Where do I submit my claim form? If your brokerage firm is put into liquidation, the court-appointed trustee will notify you and send a claim form and instructions. You must return the completed claim form to the trustee within the time limits set forth in the notice and as des
