separate customer

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 ?
Vendors do not require a separate customer provided client and all connections are captured for review.
7 million separate customer and employee contacts we manage each day, both live and via electronic interaction.
Advantex is currently integrated with the CES Centricity outage management solution (now part of SPL World Group), and two other separate customer information systems.
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