Libra
REGULATORY

Regulation and compliance

Investment adviser registration

Libra Investment Advisors Inc. is registered as an investment adviser in Florida under CRD 333647. In this capacity, Libra may provide advice and portfolio-management services involving securities under written client agreements. Registration does not imply that a regulator has endorsed Libra, approved its strategies or guaranteed performance.

CTA registration and program availability

Libra is registered with the CFTC as a commodity trading advisor under NFA ID 0577422. This registration covers advisory activity involving commodity interests, including futures. It does not mean that every client account includes futures, that every account is governed by the same agreement or that a publicly offered managed-futures program is available. Any futures mandate requires the applicable disclosures, agreements, account permissions and current compliance approval. Confirm Libra's current NFA membership status directly through NFA BASIC.

Segregated-account custody and limited authority

Assets in a segregated advisory account are held in the client's name at an independent qualified custodian. The custodian opens and maintains the account, holds the assets, processes deposits and withdrawals, and sends statements directly to the client. Libra does not take custody of client assets; its trading authority is limited by the written advisory agreement and account permissions. Clients should compare Libra's reports, if any, with the statements received directly from the custodian.

Understanding account protection

Custody protection depends on the legal entity, account type and assets held. A securities account at a SIPC-member broker may be eligible for SIPC protection if the broker fails and customer cash or securities are missing, subject to SIPC limits and rules. SIPC does not protect against market losses, investment performance or most commodity futures positions. FDIC insurance applies only to qualifying deposits held at FDIC-insured banks or eligible balances enrolled in a qualifying bank-deposit sweep program, subject to applicable limits. FDIC insurance does not cover ETFs, stocks, bonds, futures, investment notes or market losses. Clients should review the custodian's account-protection disclosures for their specific account.

Third-party-issued notes and issuer risk

An investment note is a security issued by an independent third party. The investor owns the note, not the issuer's underlying portfolio account. Libra may manage the underlying strategy but is not the issuer, custodian, distributor or guarantor. The investor is exposed to the issuer and has only the rights stated in the final offering documents. Custody or insurance protections applicable to the issuer's underlying account do not automatically become direct protections of the noteholder.

Investment and product risks

Investments may lose value. Futures involve leverage, margin and the possibility of rapid or substantial loss. Investment notes also involve issuer, market, liquidity, valuation and limited-recourse risks. Past performance does not guarantee future results. Hypothetical, simulated or backtested results have additional limitations and do not represent actual trading unless expressly identified as such.