Genesis Securities integrity

Discussion in 'Retail Brokers' started by Genesis Mngmnt, Oct 6, 2008.

  1. Genesis Securities understands the concerns of our customers regarding the safety of their capital in this extremely volatile time.

    We would like to state several things regarding these concerns:

    - Genesis is a self clearing B/D that clears only for its' customers. We are covered by SIPC, as well as supplemental coverage of $25MM firmwide, up to 5MM per account and 1MM cash.

    - Our funds are held at US Bank, with a quarter-trillion in assets, 6th largest commerial bank in US. This is a very stable bank, refered to as the clearing house of the midwest.

    - The vast majority of out client base are retail accounts, limited to 4:1 intraday and 2:1 overnight. Our proprietary activity is minimal relative to our total volume. Our core business is DMA. We do not pursue any type of asset management, real estate invesments, CDO/SIV transactions, etc. We are extremely risk conscious.

    - We are periodically audited by regulators, including FINRA and SEC, as well as internal, in house audits, to ensure we comply with all regulations regarding segregation of customer funds from firm funds, net capital requirements, etc.

    If you have any particular questions or concerns regarding Genesis, please contact your Genesis sales rep.
  2. What US bank ?
  3. cstfx


    US Bank