This is not good news. My Mom has money invested with this firm via a local broker where she lives. The losing trades don't seem to affect separately managed accounts, but it can't be good news if the management firm is declaring backruptcy. I haven't been able to access the account for a while as the broker moved firms and is using a new platform which we haven't been able to get the passwords to work for properly. So I don't even know how much is in the account. I estimate $US180k. I asked my brother to follow up urgently on this.