Asset Protection Company ("CAPCO")
is an insurance company currently licensed
by the state of Vermont. Until early 2009, CAPCO provided to participating securities broker/dealers
"Excess SIPC" protection
for institutional and individual clients' securities
accounts. This Excess SIPC protection is excess
of the protection provided by the Securities
Investor Protection Act ("SIPA"),
which is administered by SIPC.
Because all outstanding CAPCO surety bonds expired in February 2009, only customers of
Lehman Brothers Inc. and
Lehman Brothers International (Europe)
both of which are the subject of insolvency proceedings commenced prior to February 2009.