Securities Investor Protection Corporation

The Securities Investor Protection Corporation either acts as trustee or works with an independent court-appointed trustee in a missing asset case to recover funds. The statute that created SIPC provides that customers of a failed brokerage firm receive all non-negotiable securities that are already registered in their names or in the process of being registered. All other so-called "street name" securities are distributed on a pro rata basis. 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. Recovered funds are used to pay investors whose claims exceed SIPC's protection limit of $500,000. SIPC often draws down its reserve to aid investors

Contact Details: 805 15th Street, N.W. Suite 800 Washington District of Columbia 20005-2215 United States of America Tel: (202)371-8300 Fax: (202)371-6728 Email: asksipc@sipc.org WWW: www.sipc.org/

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BioNews Results for Securities Investor Protection Corporation:
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