SIPC
The Securities Investor Protection Corporation, or SIPC, is the U.S. investor's first line of defense in the event a brokerage firm fails, owing customer cash and securities that are missing from customer accounts. 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. At the same time, funds from the SIPC reserve are available to satisfy the remaining claims of each customer up to a maximum of $500,000. This figure includes a maximum of $100,000 on claims for cash. From the time Congress created it in 1970 through December 2007, SIPC has advanced $507 million in order to make possible the recovery of $15.7 billion in assets for an estimated 626,000 investors.
View Older Stories View More Recent Stories
-
ConvergEx Group Delivers Options Market Access Controls Via LiquidPoint
-
Fidelity® Research Finds Americans Vow to Double Annual Savings Goal in 2012
-
Advent Claymore Closed-End Funds Announce Investment Policy Changes
-
Westlake Securities Represents RMB, Inc. in Its Debt Recapitalization
-
Zions Direct Announces Municipal Bond Auction Results Through December 2, 2011
-
Harris Williams & Co. Advises Niagara LaSalle Corporation in Its Sale to Optima Specialty Steel, Inc.
-
Fighting Chance Announces Multi-State College and Grade School Tour for Self-Defense Training
-
Bank of America Merrill Lynch Announces 2012 Composition and Weights for the Merrill Lynch Commodity Index eXtraSM
-
Marsh & McLennan Companies Executives Named ‘Women to Watch’ by Business Insurance
-
BNY Mellon to Provide Mutual Fund Services to Touchstone Investments
-
BTIG Expands Global Trading Team with Key Appointments
-
Fidelity® Nasdaq Composite Index® Tracking Stock Fund to Declare Distribution
-
San Francisco Bay Area Insurance Agency Achieves Record $5 Billion in Life Insurance Coverage in Force
-
Daylight Shareholders Approve Plan of Arrangement With Sinopec International Petroleum Exploration and Production Corporation; Vote of Series D Debentureholders Adjourned to December 15, 2011
-
NASDAQ OMX, Realty Capital Securities and American Realty Capital Host REIT IPO Conference
-
ConvergEx Group Named Transition Manager for Van Eck Global's HOLDRS ETF Exchange
-
Judith M. Hutchison Joins First Republic Bank
-
BondDesk Completes BondWorks Rollout at Raymond James
-
TD Ameritrade Makes Managing Cash More Convenient for Investors
-
Announcing the New TradeStation Strategy Network
-
Paulson Investment Company, Inc. Completes $4,800,000 Initial Public Offering for Vanguard Energy Corporation
-
75,000 Customer Claim Notices Distributed by MF Global Liquidation Trustee
-
Morgan Stanley Smith Barney Releases its 2011/2012 “Gifts for Good” Philanthropic Catalog
-
WIA and WIW Declare Monthly Distributions for December 2011 and January and February 2012
-
Guggenheim Investments Announces December 2011 Closed-End Fund Distributions
-
Equity Services, Inc. Leverages Docupace ePACS® Solution for Straight-through Processing
-
Zions Direct Announces FDIC-Insured CD Auction Results Through November 29, 2011
-
3rd Annual "Conference for Independent Advisors" Showcases Strength of Hybrid RIA Business Model
-
Wells Fargo Completes Final Transition of Wachovia Banking Locations
-
ConvergEx Group Renames NorthPoint as ConvergEx Prime Services
-
Franklin Street Properties Corp. Achieves LEED(R) Gold Certification for Existing Buildings: Operations & Maintenance at 1293 Eldridge Parkway in Houston, Texas
-
State Street Global Advisors Unveils Two New Fixed Income SPDR® Exchange Traded Funds
-
World Leaders and Industry Influencers to Address TD Ameritrade Institutional 2012 National Conference Attendees
-
Guggenheim Investments Declares Exchange Traded Funds Monthly Distributions
-
Penson Worldwide, Inc. Closes on Sale of Australian Subsidiary; Receives $33 Million Payment
-
Zions Direct Announces Corporate Bond Auction Results Through November 25, 2011
-
Harris Williams & Co. Advises Unifrax in its Sale to American Securities
-
Rodman & Renshaw, LLC Acts as a Co-Manager to Gulfport Energy Corporation in the Pricing of Public Offering of Common Stock
-
Richard Frink Joins AXA Equitable as National Sales Manager
-
Northwestern Mutual is the Leading Provider of Individual Life Insurance
-
Fidelity® Analysis Highlights Positive Impact of Pension Protection Act on 401(k) Plans and Their Participants
-
Penson Worldwide, Inc. Appoints Diane Schueneman as Independent Director
-
Charles Schwab Redesigns Its Educational Website, SchwabMoneyWise.com, with Enhanced Navigation and an Updated Look
-
TD Ameritrade CEO to Speak at the Goldman Sachs US Financial Services Conference 2011
-
SolarCity and Bank of America Merrill Lynch Move Forward With Project SolarStrong, Expected to Build More Than $1 Billion in Solar Projects
-
Zions Direct Announces Municipal Bond Auction Results through November 25, 2011
-
Sikich Investment Banking Announces Recent Transaction - Twomey Company Purchased by Consolidated Grain and Barge Enterprises
-
optionsXpress Lowers Equity Trade Commissions
-
Recent Financial Hardship Inspires Mass Affluent Consumers to Tighten Wallets, Merrill Edge Report Finds
-
Cambridge Rep-Advisors Rank the Firm 9 out of 10 in Overall Satisfaction
