Schwab has an easy-to-understand link on asset protections with the SIPC, additional insurance and the FDIC. Details are similar at other major brokerages, e.g. the Fidelity links.
There are lots of concerns about asset protections after 3 recent bank failures - Silvergate Bank, SVB Bank (#2 biggest failure in the US history), Signature Bank (#3 biggest failure in the US history). Treasury Secretary Janet YELLEN further muddied the current rescue situation by saying that in future, excess deposits may be protected at systemically-important-banks (SIBs) upon presidential determination, but not at smaller community banks. Ironically, deposits at the 2 failed banks under government operations now seem to have have unlimited deposit insurance.
Schwab https://www.schwab.com/legal/account-protection
Fidelity1 https://www.fidelity.com/why-fidelity/safeguarding-your-accounts
Fidelity2 https://www.fidelity.com/learning-center/trading-investing/safeguarding-your-cash

https://www.cnbc.com/2023/03/17/big-changes-in-the-sp-500-friday-highlight-power-of-index-providers.html

Ever wonder why Walmart is classified as a consumer staples stock in the S&P 500, but similar retailers such as Target, Dollar General and Dollar Tree are classified as consumer discretionary stocks? A lot of other people have wondered as well.
Friday, that will change.

And . . .

Ever wonder why Visa, Mastercard and Paypal, which seem like they’re financials, are actually listed as Technology stocks instead?
Other people have wondered that as well.

What does it all mean?

Here’s something else it reflects: the people who decide what goes in these indexes have become very influential. They are not fund managers, they are index providers, but don’t let that fool you: in a world where people buy funds that are tied to indexes, the people who determine what go into those indexes have become very powerful indeed.

Probably not going to give The Big Short a run for its money.

Question 1 - If in the illustration below, funds for the purchase of a security were from a sale of another security prior to market close on the same day (Tuesday), can the newly acquired security be sold at market open on the second day (Thursday) without violating the SEC rule? Put in simpler terms, is Thursday at market open in the attached photo the first day the security purchased Tuesday can be sold per the rules? Or is it Friday?
Question 2 - If one already owned a sizable number of shares of the newly acquired security (bought with settled funds) and only acquired one additional share with unsettled money on Tuesday, does the ban on selling apply to all previously owned shares of the security or only to the most recently purchased one?
Thanks for any answers / insights.

He was almost a superhero at Matthews. I found performance to be mediocre. SFGIX. 10 years, as of tonight: +3.47%. Ya, it just was not worth it to keep my money in there.

Appreciate the input, all. I am indeed riding it out. Somehow, I wasn't so affected by the Crash of '08-'09. Back then, I was stashing money in my 403b, into EM bonds. They did well in the aftermath. No more EM, now. @LewisBraham: 68, retired, wife works full-time. I'm just laying back in the tall cotton. 5 cash, 58 stocks, 33 bonds. Adding every month to PRTXX: Treasuries and repurchase agreements. A MM fund with TRP. (Sweep account.) Instant access, 4.31% yield, currently. Better than always running over to the Windward side, where our Credit Unions are. I do that often enough, already.
Surely, Jamie Dimon and the others that went to the aid of First Republic will want something in return. I believe we will see consolidations. CS is still in the toilet. No confidence in that bank's survival. Unless it becomes a zombie-front for the Swiss National Bank, which promised to prop it up.
And the Fed's discount window has already dispensed a record amount in a very short time. Are banks just looking for cheap loans at 3%???
Happy St. Patrick's Day. I'll join the local alumni chapter watching a double-header: Gonzaga men and women, both on tv. GU women vs. Ole Miss. Men vs. Grand Canyon Univ. No corned beef. Tacos, instead. Futures up, slightly.

more
https://www.nytimes.com/2023/03/16/opinion/bank-bailout.html

Most funds unless they have a flexible go-anywhere investment objective are evaluated based on performance relative to their fund category peers. If a manager runs a tech sector fund and tech stocks are down 20% in the past year but the fund is only down 10%, that’s considered a success, even though fund shareholders may be unhappy. Given the narrow range of the strategy, outperforming on the downside when there’s a limited amount of tech stocks to choose from is impressive.

I dunno, trailing five-year returns of about 1% per year are objectively awful, let alone sub-optimal. You can't eat relative performance. I wouldn't think the fund is "designed" to achieve such returns. Pretty darn sure that's not what management envisaged.

@Crash - Thought I’d mention that what rocked markets today was the announcement that J.P. Morgan had put together a “rescue package” (loan) for First Republic funded by a number of banks. I was surprised they didn’t wait and release the information until after market. But the news broke about an hour before close and helped propel stocks higher into the end.
From CNBC: “Stocks rose Thursday as Wall Street grew increasingly optimistic after a group of banks said it would aid First Republic Bank amid the industry's crisis.” CNBC Link

+1

@Crash I'm not sure what more you could expect from Seafarer. The fund's beaten 91% of its emerging market fund peers in the past five years and 88% in the past ten with less volatility and downside risk. That's a strong record. It sounds like you have more of a problem with emerging market funds as a fund category than you have with Seafarer specifically. You can't expect Seafarer to behave like the S&P 500 or Treasury bonds if it isn't designed to do that.

Toyota is sticking with hybrids first, the EVs second. Some say it's foolish, others say that it works for Toyota.
Europeans are making good progress in the EVs; China too and it may be ahead in batteries. In the US, Tesla dominates.

If the "Fit for 55" CO2 emission targets are formally adopted, new cars sold in the EU
will need to reduce CO2 emissions by 55% (compared to 2021 levels) by 2030.
The 2035 "Fit for 55" CO2 emission reduction target for new cars and vans is 100% (zero-emission).
European auto manufacturers have a lot at stake...
Link

I’m confident @Crash can handle it. :) - But some sage advice.
What makes sense to me about the heightened volatility comes from Bloomberg media reports this evening: (1) There is a liquidity shortage, (2) As a consequence some hedge funds have had to limit or halt redemptions, (3) The ability to make large transactions is now concentrated in a limited number of hands - far fewer than in normal times. (While Bloomberg identified only one hedge fund that has halted redemptions, they seemed confident others have also halted or restricted them.)
I generally try not to allow macroeconomics to influence my investment decisions. But I think it would behoove everyone to pay attention to what’s going on in banking and to the words and actions of government officials here and abroad - in particular the central banks.
Banks Borrow $164.8 Billion from Fed in Rush to Backstop Liquidity
”All told, the emergency loans reversed around half of the balance-sheet shrinkage that the Fed has achieved since it began so-called quantitative tightening — allowing its portfolio of assets to run down — in June last year. And the central bank’s reserve balances jumped by some $440 billion in a week — which ‘basically reversed all the Fed’s QT efforts,’ according to Capital Economics.”
Bair on PBS Frontline - Sheila Bair served as the chair of the Federal Deposit Insurance Corporation (FDIC) from 2006 to 2011.

Well, since we don't know Crash's age and financial situation today as compared to the 2008 crash, we don't know if he can handle it. That was--hard to believe--15 years ago. It's a mistake to assume everyone should keep a stiff upper lip, keep calm and carry on during a difficult period. Circumstances and risk tolerances differ.
This is why, I should add, financial planners exist. A good one can assess your financial situation and risk tolerance and tell you, look your goals are X and you have this much cushion for losses, so you can afford to wait out this volatile market. Or, they can say, you're way overexposed to stocks, given your age and situation. You should dial back your exposure. I presume most people here are self-directed, though.

2008 09 credit housing crash, 2012 near double dip, 2015 -16 downturn/flat returns, 2000 crashes (decade 000 returns), 2020 Covid crashes also bad....
Just hold on to the ride
Drink lots wine/ weekend relaxation
Keep buying when ItS strikingly low.
You will be very happy 10 yrs from now if no WW3 and global warming won't kill us

Grandeur Peak's negligent behavior has been discussed many times before in this forum. Just repeatedly issuing mea culpa via fund manager commentary is not good enough. There is no change in Grandeur Peak's behavior. Fool me once shame on you and all that.
I have not looked at First Republic's asset mix but Silicon Valley Bank? Silicon Valley Bank has the highest percentage of long term securities in its assets of all the banks in the country. Every individual investor (incl those in this forum) has been worried about Duration risk for the past 10 years but not Silicon Valley Bank. Hopefully, we get to see someday the Duration risk (or the lack of) in the non-equity portion of its CEO's personal portfolio. Interestingly, even Signature bank ranked 45 places higher than Silicon Valley Bank for Duration risk ( Signature Bank allegedly was playing games with the info it was providing NY regulators, leading to its demise). But back to Grandeur Peak. There is no alleged material fraud in Silicon Valley Bank for a forensic accountant to unearth - its demise is from sheer incompetence (or moral hazard at worst) in plain sight. Incompetent (negligent) fund manager picking incompetent portfolio company management, that is all we have here.
Grandeur Peak US Stalwarts fund has 4.6% in First Republic and 2.3% in Silicon Valley Bank- as of Oct 31, per their website.
I am sorry for coming out strong on this fund company - I will go to temple and seek forgiveness. Every time we make excuses for active fund managers' repeated failings we are failing innocent investors who visit this forum. I will go back to holding my silence and not posting here.

https://www.nytimes.com/2023/03/13/opinion/silicon-valley-bank-lehman-bailout.html

As Mr. Krugman notes in the comments, "this was a medium-sized bank, and contagion was the fear."
Which also supplies the "why" re: the support of First Republic by JPMorgan, Citi, BAC and others by depositing $30B into the bank.

Schwab has far more 1 year CDs available than Fidelity. Kind of surprising

Interesting you say that because OFAFX has almost 100 positions, none more than 2%.
His other fund Olstein Strategic Opportunities OFSAX is much more concentrated, 18 positions including four regional banks, 8% of assets.
First Hawaiian, Citizens, Home BancShares, and Prosperity BancShares

Good article: https://morningstar.com/articles/1144363/which-bank-stocks-are-most-at-risk-of-a-liquidity-crisis