What are the conditions under which multiple accounts held by the same customer are treated as separate for SIPC protection?

Multiple accounts held by the same customer are treated as separate for SIPC protection if the customer is acting in a bona fide separate capacity with respect to each account. For example, accounts held in different names or for different purposes can qualify as separate customers under the SIPC.

The SIPC provides protection up to its limits per separate customer, not per account. To qualify as separate customers, individuals must demonstrate that they are acting in a bona fide separate capacity for each account. For instance, accounts held under different names or for different beneficiaries can be considered separate, while accounts held jointly or in the same capacity will not qualify for separate protection.