[請益] 美券商海外分公司客戶,SIPC不保障之法源

最近在做相關研究,以了解SIPC的保障範圍,是否有包含券商外國客戶.

目前查到以下法源:

https://www.govinfo.gov/content/pkg/COMPS-1886/uslm/COMPS-1886.xml

搜尋關鍵字:Excluded persons

(C) Excluded persons.—The term “customer” does not include any person, to
the extent that—

(i) the claim of such person arises out of transactions with a foreign
subsidiary of a member of SIPC; or

(ii) such person has a claim for cash or securities which by contract,
agreement, or understanding, or by operation of law, is part of the capital
of the debtor, or is subordinated to the claims of any or all creditors of
the debtor, notwithstanding that some ground exists for declaring such
contract, agreement, or understanding void or voidable in a suit between the
claimant and the debtor.
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請問紅色部分該翻譯為:

1.該人的求償部位,是因透過 SIPC 成員的外國子公司進行交易而產生

or

2.該人的求償部位,是因與 SIPC 成員的外國子公司進行交易而產生
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還請熟悉美國法律英文的網友指教,感謝~~

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