If Jiko Securities Inc. were to fail, you would claim your assets through a court-appointed SIPA Trustee, rather than contacting BNY directly. Because Jiko is the carrying firm, BNY holds client cash and securities in a segregated omnibus account on Jiko’s behalf without individual account records. Under the Securities Investor Protection Act (SIPA), SIPC or the SEC would petition a federal court to place Jiko into liquidation and appoint a Trustee to return customer property. In practice, customer accounts are usually transferred in bulk to another solvent broker-dealer early in the process. If a transfer isn't feasible, the Trustee distributes customer assets pro rata and SIPC covers any shortfall up to $500,000 per customer (including up to $250,000 for cash), with clients filing a formal claim directly with the Trustee to receive their funds.