We appreciate the opportunity to work with SIPC
on this initiative.
SIPC either acts as trustee or works with an independent court- appointed trustee in a brokerage insolvency case to recover funds.
The statute that created SIPC provides that customers of a failed brokerage firm receive all non-negotiable securities - such as stocks or bonds -- that are already registered in their names or in the process of being registered.
But the SIPC
has refused, arguing that investments in bank CDs in a foreign country are not covered by the fund.
Theoretically, a consumer with no experience using a personal computer would be able to sit down at an SIPC
system and immediately play a game, watch a movie or TV program, browse the World Wide Web, connect to a stereo or VCR, listen to voice mail or write e-mail.
As such, the amount of SIPC
funds committed in the Madoff liquidation exceeds the total amount paid in the previous 11 largest SIPA liquidations.
20, the New York Court of Appeals (New York's highest court) unanimously rejected an attempt by SIPC
to broaden significantly the scope of accountants' liability under New York law.
00 online trade, has announced the purchase of excess SIPC
insurance coverage to provide clients a higher level of account protection.
The Securities Investor Protection Corporation (SIPC
), which maintains a special reserve fund mandated by Congress to protect the customers of insolvent brokerage firms, is alerting international regulators about a "look-alike" Web site for a fictitious organization that is mimicking the SIPC
Web site in an apparent attempt to target Madoff victims.