separate customer

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Separate customer

Method of allocating insurance by the Securities Investor Protection Corporation. Each account that is under the name of a different person or group of people is entitled to maximum protection.

Separate Customer

The way that the Securities Investor Protection Corporation treats each account. The Securities Investor Protection Corporation is a not-for-profit organization mandated under American law to insure investors against the potential bankruptcy of a broker-dealer. According to the SIPC's rules, each account is treated as a separate customer, even if multiple accounts have the same owner. This insures each account and not just the owners personally.

separate customer

For purposes of insurance coverage by the Securities Investor Protection Corporation, an account entitled to full insurance coverage. A husband and wife, each with individual accounts and also a joint account, are viewed as three separate customers for insurance purposes. Each one of the accounts, including the joint account, is covered in full.
References in periodicals archive ?
UMCi, the Singapore-based 300mm subsidiary of world-leading semiconductor foundry UMC (NYSE:UMC), today announced the start of full-scale production following the successful fabrication of advanced ICs for three separate customers.
Griffith serves a number of distinct and separate customers through its distribution fleet and is divided into three major lines of business: retail, wholesale, and dealer services.
In the initial two weeks of installations and operations in Lima, Digital Way has installed or is in the process of installing service to at least fifty-eight separate customers, totaling over one-hundred fifty connections.
It did its job perfectly, allowing us to carry two distinctly different primary payloads -- with different mission and integration requirements -- for separate customers on the same launch.
It will be the first time a Delta II rocket has carried two distinctly different primary payloads -- with different mission and integration requirements -- for separate customers on the same launch.
The CMC Mexico facility is fully operational and currently manufactures numerous projects for six separate customers.
Thursday announced the first sales of its Industrial PosiCharge fast charging system to two separate customers.
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