SIPC-Protecting Your Assets

What and who is RBC Clearing & Custody? RBC Clearing & Custody is a division of RBC Capital Markets, LLC, member NYSE/FINRA/SIPC. RBC Capital Markets, LLC, is a member of the NYSE, AMEX, CHX, CBOE and PSE and has execution capabilities on all principal exchanges. RBC Capital Markets, LLC is a wholly owned indirect subsidiary of Royal Bank of Canada, which trades under the symbol RY on the New York Stock Exchange. 

Firm relationship with RBC Clearing & Custody Higgins Capital Management, Inc. has a contractual agreement with RBC Clearing & Custody, a division of RBC Capital Markets, LLC, to serve as our clearing firm. This fully disclosed clearing agreement states the responsibilities of each party. Prior to the agreement becoming effective, RBC Clearing & Custody is responsible for making all disclosures to Higgins Capital Management, Inc.'s designated examining authority as required by FINRA Rule 4311. Each client of Higgins Capital Management, Inc. is notified of the relationship via a disclosure letter. The disclosure letter details the responsibilities that Higgins Capital Management, Inc. (the introducing broker-dealer) and RBC Capital Markets, LLC (the clearing firm) have to the client. Although client assets are held by RBC Capital Markets, LLC, neither RBC Capital Markets, LLC, nor its parent company, Royal Bank of Canada, has responsibility for the financial condition or performance of Higgins Capital Management, Inc. or our financial professionals. 

SIPC & additional coverage for client accounts Our clearing firm, RBC Clearing & Custody, is a division of RBC Capital Markets, LLC. RBC Capital Markets, LLC, is a member of the Securities Investor Protection Corporation (SIPC). SIPC is a nonprofit membership corporation funded by its member security broker-dealers. SIPC protects the securities clients of its members in the event of the failure of a member firm. SIPC reimburses clients the cash value of their securities up to $500,000 per client. Any lost cash in a client's account would be reimbursed by SIPC up to $250,000 (reducing the $500,000 above). 

RBC Capital Markets, LLC, purchases an additional policy that offers coverage in excess of the protection provided by SIPC. This coverage covers lost securities and cash protection up to $99.5 million per client, of which $900,000 may be in cash in addition to the SIPC limit. A $400 million aggregate limit applies to this additional coverage. 

Note: Neither SIPC protection, nor protection in excess of that offered by SIPC, covers a decline in the value of a client’s assets due to market loss. Additional information is available upon request or at www.sipc.org. 

Securities Investor Protection Corporation (SIPC) 
1667 K St. N.W., Suite 1000 
Washington, D.C. 20006-1620 
1-202-371-8300