What is SIPC protection and what are its limits?

SIPC (Securities Investor Protection Corporation) protects brokerage customers if a member broker-dealer fails financially. It covers up to $500,000 per account (including up to $250,000 in cash) for the return of missing securities. SIPC does NOT protect against investment losses from market declines. Many large brokers carry additional private insurance above SIPC limits. Check your broker's coverage disclosures.