Folks, I've almost completed registration on Interactive Brokers (now at the supporting documents part).

Just to check - what happens to your holdings (stocks in companies or ETFs etc.) if IB were to for example close down or go bankrupt ? What evidence would you have to prove your ownership ?

I'm asking this because I remember reading in one of the registration pages that IB is like a paperless broker with everything online.

Thanks a lot, good to know this, especially the section below
" There is no requirement that a customer reside in or be a citizen of the United States. A non-U.S. citizen with an account at a brokerage firm that is a member of SIPC is treated the same as a resident or citizen of the United States with an account at a brokerage firm that is a member of SIPC."

What would be the reason for local banks refusing TT's ? Is there a law against this ?