SIPC and Excess Protection

Hennion & Walsh is a Member of SIPC, which protects securities customers of its members up to $500,000 (including $100,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.

Above and beyond SIPC coverage, First Clearing, LLC maintains additional protection coverage ("Excess Protection") through London Underwriters (led by Lloyd's of London Syndicate) ("Lloyd's"), which has received an A+ financial strength rating from Standard and Poor's and Fitch Ratings, as well as an A rating from A.M. Best.

For clients who have received the full SIPC payout limit, First Clearing's policy with Lloyd's provides 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, with up to $1.9 million for cash per client. Lloyds provides to participating securities broker/dealers "Excess Protection" for institutional and individual clients' securities accounts. This "Excess Protection" is in addition to the protection provided by the Securities Investor Protection Act ("SIPA"), which is administered by the Securities Investor Protection Corporation ("SIPC").

SIPC and Excess Protection do not protect against losses from the rise and fall in the market value of investments, and does not cover all assets.