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
-
Zions Direct Announces FDIC-Insured CD Auction Results Through November 15, 2011
-
MassMutual Adds $23+ Million Taft-Hartley Retirement Plan
-
SBT Bancorp Announces Quarterly Dividend
-
Active-Duty Families Focusing on Black Friday for Holiday Shopping, First Command Reports
-
New Schwab Principles Designed to Help Americans Get Ready to Live on Retirement Income
-
TradeStation Announces Launch of All-New Options Trading Platform
-
National Inflation Association Releases Statement on MF Global Missing Funds
-
Liquidnet Provides Institutional Investors with Size and Scale to Trade Blocks
-
LPL Financial to Present at the NASDAQ OMX Morgan Stanley Investor Program
-
Sikich Named Technology Pacesetter for 2011 by Accounting Today
-
Zions Direct Announces Corporate Bond Auction Results Through November 11, 2011
-
San Francisco Bay Area Insurance Agency of MassMutual Financial Group Opens New Palo Alto Office to Continue Focus on Asian-American Community
-
Completion of Hazel Park School District’s $25.5 Million Bond Sale Results in Taxpayer Savings
-
Military Families Scaling Back Thanksgiving Plans Due To Economy, First Command Reports
-
BNP Paribas Named Best Fund Administrator by HFMWeek
-
Strong Sales Continue for New York Life Through the Third Quarter of 2011
-
Schwab Completes Acquisition of Compliance11, Inc.
-
Gene Martino Joins First Republic Bank
-
Merriman Capital to Sponsor the 49 North Resource Conference
-
M5 Networks Minimizes Fire-Related Disruption to Client National Holdings Corporation's Business
-
Charles Schwab Launches Equity Ratings for International Stocks
-
E*TRADE Financial Corporation Reports Monthly Activity for October 2011
-
TradeStation Acquires Leading Forex Brokerage
-
Pipeline Announces Appointment of Jay Biancamano as Executive Chairman
-
Pipeline Announces Appointment of Jay Biancamano as Executive Chairman
-
E*TRADE Financial Corporation Announces Upcoming Speaking Engagements
-
Merriman Holdings, Inc. Announces Financial Results for the Third Quarter Ended September 30, 2011
-
INTL Provident Group USA Advises South Street Securities, LLC
-
MassMutual Achieves Best-in-Class Satisfaction and Loyalty Scores in Areas Critical to Retention
-
Zions Direct Announces Municipal Bond Auction Results Through November 11, 2011
-
Cambridge Unveils New Advisor Focused Solutions During National Conference in Atlanta
-
Rodman & Renshaw, LLC acts as Exclusive Placement Agent to GeoGlobal Resources, Inc. in the Private Placement of $3.9 Million
-
Fidelity® Extends Leadership in Mobile Space with Next Generation Brokerage App for iPad®
-
People Helping People Hires Chief Complaince Officer Amour Noubarentz
-
Brockhouse Cooper trading costs remain among lowest in industry
-
John Thomas Financial Announces Expansion of Fixed-Income Securities Desk
-
Advisors Asset Management Selected by Hatteras Funds to Distribute its Mutual Funds at Merrill Lynch and Wells Fargo
-
Can Parents Groom Financially Successful Sons and Daughters?
-
BofA Merrill Lynch Fund Manager Survey Finds Investors Turning to U.S. and Emerging Markets Amid Eurozone Fears
-
SNW Announces New Hire
-
Retirement Readiness Varies in America’s 30 Largest Metropolitan Areas
-
SC Distributors Hires Jenniffer Daigle as New National Accounts Manager
-
GAIN Capital Holdings Appoints Interim CFO
-
eOption To Display Cost Savings of Stock & Option Commissions at the Las Vegas Traders Expo
-
Overhaul of Military Retirement Benefits Puts Focus on Spouses, First Command Reports
-
Schwab Reports Monthly Activity Highlights
-
TD Ameritrade Institutional Advisor Index Survey: More Aging Advisors Make the Move to Create a Formal Succession Plan
-
Ultimate to Present at Needham & Company’s Inaugural SaaS 1x1 Conference
-
23% of U.S. Wealthy Do Not Trust Next Generation to Safeguard Wealth, New Report Reveals
-
Ameritas Life Enters Agreement to Acquire Texas Company
