Hi all,
Please bear with me, as mentioned in another thread I am an amateur investor.
I have been reading the email regarding the transfer of Interactive Brokers LLC to a Hong Kong based affiliate, and trying to figure out what it all means.
It seems one of the implications (which is conveniently omitted in the IB notification email although I can see why) is that in the event of brokerage failure, Hong Kong based investors are no longer covered by the US SIPC (which assists with recovery of securities and cash up to US$500k)? (SIPC - List of Members)
Is this other people's reading of this transfer also? Does anyone know what is the Hong Kong equivalent for brokerage failure?