Pershing's  Supporting Role

 

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout
the investment lifecycle. At BNY Mellon’s Pershing, we work behind the scenes to help financial organizations serve investors.

You will see our name on your statements, trade confirmations and other notices about your account. We provide a host of solutions to advisors, broker-dealers, fund managers and other financial businesses—so they can serve you.

 

Proven. Tested. Trusted.

You can feel confident that your assets are in strong hands. Pershing is the trusted choice of more than 1,300 financial organizations, representing seven million investors. We are the #1 clearing firm in the U.S.1 and are committed to the safekeeping, servicing and reporting of assets for investors like you.

 

How You Benefit

Because your financial organization uses the services of Pershing, you benefit through:

 

Investment Solutions and Services

We give your financial provider access to a vast array of trading and investing solutions: the tools it needs to provide opportunities for every investor and every goal.

 

Protection of Your Privacy

The confidentiality of your personal information is carefully protected with advanced physical, electronic and procedural safeguards.

 

BNY Mellon’s Pershing has been a leading global provider of financial business solutions for 80 years and serves many of the world’s most respected financial organizations. We remain committed to the safekeeping, servicing, segregation and reporting of our global client assets.

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Financial Strength—March 31, 2019

Pershing’s core financial strength provides the first measure of protection for our global client assets. Our parent company, BNY Mellon, is a global investments company dedicated to helping its clients manage and service their financial assets and is one of the world’s largest global custodians. While financial strength does not protect against loss due to market fluctuation, our internal controls and regulatory oversight help maintain our stability and focus.

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BNY Mellon’s Pershing

› Approximately $1.8 trillion in global client assets1

› Net capital of over $2.0 billion2—well above the minimum requirement

 

BNY Mellon

› $34.5 trillion in assets under custody and/or administration

› $1.8 trillion in assets under management

        1 Pershing LLC and its global affiliates. 2 Pershing LLC

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Segregation and Control of Assets

Pershing protects client assets through rigorous internal control measures. An annual audit by a major independent audit firm and the audit team at our parent company, BNY Mellon, helps to monitor controls that are in place. In addition, a Service Organization Control report conducted by an independent audit firm provides additional evaluation of the design and operating effectiveness of Pershing’s internal controls.

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Clients’ fully-paid-for assets are segregated from our own, with quarterly vault inspections conducted. In addition, we segregate cash and/or qualifying securities in special reserve bank accounts for the exclusive benefit of clients, to protect clients’ funds in the unlikely event of Pershing’s failure and liquidation.

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Pershing is a broker-dealer registered with the U.S. Securities and Exchange Commission, all 50 states as well as the District of Columbia and Commonwealth of Puerto Rico, and certain foreign jurisdictions.

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Securities Investor Protection Corporation (SIPC®) Coverage

Pershing is a member of the SIPC, which protects securities’ customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at sipc.org.

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Excess of SIPC Coverage Through Underwriters at Lloyd’s and Other Commercial Insurers

In addition to SIPC protection, Pershing provides coverage in excess of SIPC limits from certain underwriters in Lloyd’s insurance market and other commercial insurers. The excess of SIPC coverage is valid through February 10, 2020 for Pershing LLC accounts. It provides the following protection for Pershing LLC’s global client assets:

› An aggregate loss limit of $1 billion for eligible securities over all client accounts

› A per-client loss limit of $1.9 million for cash awaiting reinvestment—within the aggregate loss limit of $1 billion

 

SIPC and the excess of SIPC coverage do not protect against loss due to market fluctuation. An excess of SIPC claim would only arise if Pershing failed financially and client assets for covered accounts—as defined by SIPC—cannot be located due to theft, misplacement, destruction, burglary, robbery, embezzlement, abstraction, failure to obtain or maintain possession or control of client securities, or to maintain the special reserve bank account required by applicable rules.

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*©2019 Pershing LLC. Pershing LLC, member FINRA, NYSE, SIPC, is a wholly owned subsidiary of The Bank of New York Mellon Corporation (BNY Mellon). Pershing and your nancial institution are separate entities, each responsible for its own services and policies. Pershing does not provide investment advice. Trademarks, service marks and logos belong to their respective owners.

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