First Clearing Relationship
All accounts are processed and carried by First Clearing, LLC (FCC), a non-bank affiliate of Wells Fargo & Co.
Securities in accounts carried by FCC are protected by the Securities Investor Protection Corporation (SIPC) up to $500,000. This amount includes cash claims up to $100,000.
FCC has arranged for supplemental insurance protection for cash and securities through Lloyd's of London. The additional coverage above the SIPC limits for any missing securities and cash in client brokerage accounts up to a firm aggregate limit of $1 billion (including up to $1.9 million for cash, per client). In other words, the aggregate amount of all client losses covered under this policy is subject to a limit of $1 billion, with each client covered up to $1.9 million for cash.
To learn more about SIPC, visit its web site at www.sipc.org.
Protection in an Emergency
Moors & Cabot has developed a comprehensive business continuity plan that is designed to protect your interests in the event of an internal disruption—such as a fire in our building—or an external disruption—such as a terrorist attack or a flood—that affects many brokerage firms and/or U.S. securities market operations.
This carefully crafted, highly detailed plan allows us to recover critical systems and business functions as quickly as possible, minimizing any impact on our ability to communicate with you and meet your investment needs. The plan is managed by senior personnel at our firm and is updated annually to capitalize on technological enhancements and human resource changes.
Customer records, funds and securities are held by our clearing firm, First Clearing, LLC (FCC). The firm's primary computer facilities are located in geographically diverse parts of the country for added protection. FCC submits its contingency plan to Moors & Cabot for review on a regular basis, and we are satisfied that the plan adequately protects your interests, including your ability to access your records and assets in the event of an internal or external disruption.
Download a summary of the Moors & Cabot Business Continuity Plan (26KB PDF)