A retail client maintains an individual brokerage account with a SIPC-member broker-dealer… — FINRA SIE (Securities Industry Essentials)

A retail client maintains an individual brokerage account with a SIPC-member broker-dealer that becomes insolvent and enters liquidation. On the filing date, the account contains $210,000$ in municipal bonds, $290,000$ in uninvested cash balances awaiting reinvestment, and $80,000$ in commodity futures contracts. What is the total dollar amount of SIPC protection that will be provided for this customer's account?

Cevap: 460000 $

Cevap

$460,000

SIPC coverage provides protection up to

500,000 total per separate customer, with a sub-limit maximum of

250,000 for cash claims. In this scenario, municipal bonds (

210,000

) are fully covered securities. Cash balances (

290,000

) are capped at

250,000 of protection. Commodity futures (

80,000

) are excluded from SIPC protection entirely. Adding

210,000

in bonds and

250,000

in protected cash gives

460,000

, which is under the total

500,000$ overall SIPC cap.

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Categorize account assets into SIPC-eligible securities, cash, and excluded items

Municipal bonds (

210,000

) are eligible securities. Cash (

290,000

) is eligible subject to sub-limits. Commodity futures (

80,000

) are excluded.

SIPC protects customer cash and securities in broker-dealer bankruptcies, but commodity futures, currencies, and fixed annuities are not covered.

Calculate covered cash using the SIPC cash sub-limit cap

Covered cash = $250,000.

SIPC limits cash coverage to a maximum of $250,000 per separate customer.

Calculate total covered amount and apply overall SIPC account limit

Total covered claim =

210,000 +

250,000 = $460,000.

The total eligible protection (

460,000

) falls below the total overall SIPC cap of

500,000

per separate customer.

Anahtar Kavram

SIPC Coverage Limits and Excluded Assets

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