Re: Warning for any Rich NOT share holders TIM
posted on
Nov 12, 2007 10:11AM
In Canada Banks and similar institutions are members of the Federal Deposit Insurance Plan and Accounts are insured up to a maximum of $200,000.00.
Brokerage accounts are also insured under a similar plan and at the moment I do not recall the amounts per account or per brokerage. On top of that many or most firms also carry additional insurance on client accounts but once again do not recall the details for my accounts ...
I do recall that a couple of firms did make specific efforts to reassure clients last April or May. One of these was E*Trade Canada (also suggesting then there separate incorporation in Canada as opposed to its Parent company in the US - thus they have been giving a heads up on this back in May at the latest).
Does anyone have the latest conditions and details on the "Deposits Insurance Plan" run by the feds in Canada and the Industry "Insurance/Guarantee" via the Brokers and Financials?
Old Joe