[newsoftheday]

I asked Gemini to verify this statement from the article, ver batim, "However, Article 8 permits secured creditors to seize customer assets pledged as collateral if a firm cannot pay its debts, even if the securities were improperly pledged." to which it replied in part, "That statement is disturbingly accurate in a very narrow, legal sense, but it describes a "worst-case scenario...". That, if accurate, would seem to refute your statement that the stocks can't be seized which supports the intent of the article.

[seanhunter]

That doesn’t at all refute my statement. That is the scenario I talk about where your assets go into the waterfall. The broker doesn’t get to seize anything - the other creditors are making a claim against your assets and as I said, they very likely rank behind you in the waterfall, and either way there is a lot of messy and expensive legal wrangling before anyone gets anything.

It’s pretty dispiriting that you think that your conversation with gemini is worth posting to this site btw.

[cadamsdotcom]

Thanks, but asking AI for anything verbatim is risky.

You’d be better served asking the bot to scour the internet for a link to a source and reading that yourself.