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Non-Tech : MB TRADING
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To: funk who wrote (1015)9/7/1998 11:23:00 AM
From: Jim Jones  Read Replies (2) of 7382
 
Recently I learned in more detail about SW Securities insurance policy which I wanted to share with the members of this forum. They informed me that even with their excess insurance policy that they do not cover cash balances larger that $100k. What this means is that cash pending investment in our account in excess of $100k is not insured. Other brokers, E*trade for example, circumvent this problem by rolling the cash over into a money market security which then becomes insured.

Is anyone else concerned about this liability? If so, I would like to hear what other people are doing about it?
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