Mesirow Financial, Inc. (MFI) is a member of the Securities Investor Protection Corporation (SIPC). SIPC covers each client for up $500,000 including $250,000 for cash. As a second level of protection, Mesirow Financial has purchased additional SIPC coverage from Lloyd's of London, the world's leading insurance carrier. This policy provides additional account coverage of up to $34,500,000, including up to $2.9 million for cash, per client as defined by the SIPC rules and is subject to a firm aggregate limit of $135 million. Subject to the terms and conditions of the Lloyd's policy, this coverage applies when a shortfall exists upon the return of assets to clients should Mesirow Financial, Inc. be liquidated or declared insolvent.
Federal law requires broker-dealers to (1) maintain accurate records of securities and monies they hold for each client, (2) promptly take possession and control of securities purchased and hold client securities identified as such in acceptable locations, and (3) make weekly computations of client money balances and cash representing any client securities not actually in possession and to deposit any such balances in bank accounts identified as being for the benefit of clients.
Our firm is aware of its responsibilities under federal law to safeguard clients' property, and we take great care to insure that we are in compliance with applicable laws. The intent is to assume that if, in the unlikely event this firm was liquidated, all clients would receive their property.
This is an explanation of the protection provided. The additional protection is governed solely by the terms of the Lloyd's of London additional securities coverage, which is similar in scope to SIPC's securities protection. We reserve the right to make changes in the additional securities coverage, including renewal or termination.
For more details, please see www.sipc.org or call 202.371.8300.
SIPC protection does not apply to the rise and fall in market value or investments, but only to the loss of cash and securities in the unlikely event a firm is liquidated.