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Published on Mar 17, 2010
This video provides an explanation of what happens when a bank or brokerage firm become insolvent and how that will affect your accounts. Federal Deposit Insurance Corporation or FDIC protects banks who are members of this corporation. Find out if your bank is a member of the FDIC and how much protection is associated with your accounts currently. Learn to determine if your brokerage firm is registered with the SEC and a member of SIPC or Securities Investor Protection Corporation. Find out the role that SIPC plays when a brokerage firm becomes insolvent. Learn how much your accounts are covered in case your brokerage firm becomes insolvent. http://moneyconceptsforlife.net/