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THE ROLE OF PERSHING
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Pershing, LLC carries your account as clearing broker pursuant to a clearing agreement with Johnston, Lemon. Pershing, LLC may accept from Johnston Lemon without inquiry or investigation(I) orders for the purchase and sale of securities and other property and (II) any other instructions concerning your account. Pershing, LLC is not responsible or liable for any acts or omissions of Johnston, Lemon or its employees and it does not supervise them. Pershing, LLC provides no investment advice nor does it assess the suitability of any transaction or order. Pershing, LLC performs several key functions at the direction of Johnston, Lemon. It acts as custodian for funds and securities you may deposit with it directly or through Johnston, Lemon or that it receives as the result of securities transactions it processes.
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Copyright © 2009 All Rights Reserved. Johnston,Lemon & Co. Incorporated is a registered broker-dealer and a member of the New York Stock Exchange (NYSE),The Financial Industry Regulatory Authority (FINRA), The Securities Investor Protection Corporation (SIPC) and the Securities Industry and Financial Association Market (SIFMA)
Pershing provides account protection for the net equity of securities positions and cash held in your account.Of this total, the Securites Investor Protection Corporation (SIPC)provides $500,000 of coverage,including $100,000 for claims for cash. Pershing provides additional protection on terms similar to (SIPC) for account net equity in excess of $500,000 through a commercial insurer. The account protection applies when a (SIPC) member firm fails financially and is unable to meet obligations to securities clients, but it does not protect against losses from the rise and fall in the market value of investments.