Accounts are carried by RBC Correspondent Services (RBC), a division of the Royal Bank of Canada. RBC acts in the capacity as our clearing firm thereby performing centralized cashiering, bookkeeping and execution functions for the accounts we service.
RBC handles the delivery and receipt of all securities transactions by our clients. RBC is responsible for receiving and distribution payments and maintains custody of all securities and funds of Joseph Gunnar & Co. clients. RBC is also responsible for receiving and distributing all distributions including dividends. They also process exchange offers, rights offerings, warrants, tender offers and redemptions.
[SEC Rule] Securities in accounts carried by RBC Correspondent Services* (RBC), a division of the Royal Bank of Canada are protected in accordance with the Securities Investor Protection Corporation (SIPC) up to the net equity value ($500,000 provided by SIPC, and the remainder provided by a leading US insurance carrier). Neither coverage protects against a decline in the market value of securities.
Member of SIPC, Securities in your account protected up to $500,000. For details, please see www.sipc.org.