Claim for cash.

17 C.F.R. § 300.501
in effectEffective: 2024-07-01
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) Where a SIPC member (“Debtor”) held securities in an account for a customer, the customer has a “claim for cash” with respect to any authorized securities sale: (1) If the Debtor has sent written confirmation to the customer that the securities in question have been sold for or purchased from the customer's account; or (2) Whether or not such a written confirmation has been sent, if the securities in question have become the subject of a completed or executory contract for sale for or purchase from the account. (b) Where the Debtor held cash in an account for a customer, the customer has a “claim for cash”, notwithstanding the fact that the customer has ordered securities purchased for the account, unless: (1) The Debtor has sent written confirmation to the customer that the securities in question have been purchased for or sold to the customer's account; or (2) Whether or not such a written confirmation has been sent, if the securities in question have become the subject of a completed or executory contract for purchase for or sale to the account.

Starting a business? Corpus forms LLCs in all 50 states and DC.