SIPC membership is important. SIPC only protects customers of brokerage firms that are members of SIPC.
Always look for the SIPC logo or "Member SIPC" when looking at brokerage firm advertising. The logo or "Member SIPC" should appear in signs and ads of SIPC members. If you have a question as to whether or not a brokerage firm is a member of SIPC, search the List of Members or call the SIPC Membership Department at (202) 371-8300.
SIPC protection is not available to customers of former members of SIPC unless the liquidation proceeding is initiated within 180 days of the date SIPC membership is terminated.
Affiliates of SIPC Members
Some SIPC members have affiliated or related companies or persons whose names may be similar to the name of the SIPC member, but are not members of SIPC. Some of these affiliates may even operate from the same offices or with the same employees. Be sure that each confirmation statement and each statement of account that you receive is issued by the SIPC member and not by a non-SIPC member affiliate or a related firm with a similar name.
Deposits for credit to your securities account, by check or otherwise, should not be made payable to your account executive, registered representative, or to any other individual, or company. You may be asked to make the check or deposit payable to another SIPC member if your account is carried at another SIPC member who provides services for your SIPC member brokerage firm. If you are requested to make your check or deposit payable to anyone other than a SIPC member brokerage firm (such as to the issuer of the securities you are purchasing or to a bank escrow agent), these payments may not be eligible for SIPC protection, and questions should be directed to FINRA, the SEC or your state securities regulator.