Step 1
Claim forms
Claim forms are available on the Trustee’s website and will also be mailed to every client who has an account with the brokerage firm.
Step 2
Customers submit claim forms
To be eligible for CIH protection, you must file your claim within the time limit (10 business days) . If a claim is not filed by the due date, it may result in the loss of all or part of the claim. The claim may be filed electronically or by sending a completed and signed claim form to the Trustee.
Follow all instructions when filing a claim electronically or completing a written claim form for submission by email. On the claim form or signed attachment, you must describe the money and securities that your brokerage firm owes you. If possible, you must provide any documentation supporting your claim, including copies of your brokerage statements, trade confirmations, and any correspondence you have with the brokerage firm. When filing a claim, you must upload documents that prove your identity.
Step 3
Trustee reviews claims
The trustee will compare your claim with the books and records of the brokerage firm. If necessary, the Trustee may request additional information from you. The net difference between what you owe the brokerage firm and what the brokerage firm owes you is called your net worth. If you owe any amount to a brokerage firm (for example, on a margin loan), the amount you owe will be deducted from the amount the brokerage firm owes you.
Step 4
The trustee issues a letter of determination
If you file a grievance, the Trustee will review the grievance and decide whether to grant or deny your grievance. The trustee will issue a “Letter of Determination” explaining the reasons for granting or denying your claim. If you disagree with the Trustee’s determination, you have 30 days from the date of the determination letter to object in writing.
