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To: LLCF who wrote (183774)7/26/2002 12:48:58 PM
From: Oblomov  Respond to of 436258
 
That's what SIPC protects you against. I wonder how many claims they could pay out at once, though.

sipc.org



To: LLCF who wrote (183774)7/26/2002 7:16:51 PM
From: Joan Osland Graffius  Read Replies (1) | Respond to of 436258
 
LLCF,

It is my understanding that SPIC insurance protects you against fraud. Your MM fund is backed by debt and if the fund goes below $1 par, your firm can put cash or debt into the fund to make it whole, but is not obligated to do this. If there is fraud associated with the MM fund then the SPIC insurance will cover your loss. By the way mismanagement is different than fraud. <g>

Joan


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