Syfe is regulated by the Monetary Authority of Singapore (MAS) as a capital markets services license holder. Alpaca Securities LLC, a member of the Securities Investor Protection Corporation (SIPC), will serve as the sub-custodian for your securities account. In the event that a SIPC-member fails and is placed in liquidation under the Securities Investor Protection Act, SIPC protects the securities customers of its members up to $500,000 (including $250,000 for claims for cash). SIPC does not protect against any decline in the value of your securities. For details, please see www.sipc.org