First Clearing, LLC is a member of the Securities investor Protection Corporation (SIPC), a nonprofit, congressionally chartered membership corporation created in 1970. SIPC protects clients against the custodial risk of a member investment firm becoming insolvent by replacing missing securities and cash up to $500,000, including up to $250,000 in cash, per client, in accordance with SIPC rules. (Note that SIPC coverage is not the same as, nor is it a substitute for, FDIC deposit insurance; securities purchased through First Clearing are not FDIC-insured.) For more information about SIPC, please visit SIPC.org.
Above and beyond SIPC coverage, First Clearing maintains additional insurance coverage provided through London Underwriters (led by Lloyd’s of London Syndicate) ("Lloyd's"). For clients who have received the full SIPC payout limits for any missing securities and cash in client investment accounts, up to a clearing-firm aggregate limit of $1 billion (including up to $1.9 million for cash per client). In other words, the aggregate amount of all client losses covered under this policy are subject to a limit of $1 billion, with each client covered up to $1.9 million for cash.
