Sipc

[Sky123987]

Hi,

I understand that SIPC is a type of protection for investment.

Would you be covered in the following scenario.

* someone was able to log into your account, and do something unethical causing you to lose your money, or does this only cover against the company going under

 

[chauncey1]

They cover for broker failure, no for identity theft or hacking, there are other types of insurance for this, ask you broker if they have some..

 

[gnome]

Quote from chauncey1:

They cover for broker failure, no for identity theft or hacking, there are other types of insurance for this, ask you broker if they have some..

I don't think that's true. SIPC is to insure against "missing securities or cash" [their term]... I believe that includes "missing for any reason".