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The future of the securities accounts it held is less clear.
Those who had money in MF Global's securities accounts have not gotten it back.
Similar risks exist for investors who held cash in securities accounts.
There are 400 securities accounts on top of the 38,000 commodities accounts.
SIPC offers protection on securities accounts up to $500,000, though it could take years for claims to be paid.
Privately managed securities accounts, also known as consultant wraps, make up 58percentt of the wrap market, or $262 billion.
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It can also lead to violations of securities, accounting and tax laws.
In the Barclays Aggregate, for instance, Treasuries, government agency debt and mortgage-backed securities account for roughly 80 percent of the index.
"This stock sale has been painful, and was dictated by the specific terms of my securities account," Mr. Lord said in the statement.
Type of Account For ETFs, investors need a securities account; trading futures requires a futures account.
U.S. securities account for 7.7% of ICBCs total foreign securities investments and 3% of its earning assets, Goldman Sachs said.
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