When a brokerage firm is closed, SIPC steps in and, within certain limits, works to return your cash, stock, and other securities you had at the firm.
What We Do

Open Cases


The following are open liquidation cases in which the six-month claims filing period is closed.

TWS Financial, LLC

Westor Capital Group, Inc.

MF Global Inc.

Bernard L. Madoff Investment Securities LLC

Lehman Brothers Inc.

North American Clearing, Inc.



Is Your Stock Brokerage Account Safe? An Interview with SIPC President Steve Harbeck


Protecting Yourself Against Fraud

Learn about investment fraud, and where to turn for help.

Fraudulent Customer "Protection" Alert


Recent SIPC News

Friday, July 24, 2015

SIPC Praises MF Global Trustee on Near End of MF Global Inc. Liquidation
Unsecured general creditors can now expect a near full recovery on their allowed claims

Monday, July 13, 2015

SIPC Commends Lehman Trustee on Plans to Distribute Additional $1.9 Billion to Unsecured General Creditors
Distribution Would Bring Total Unsecured General Creditor Payout to $7.8 Billion

Friday, June 19, 2015

Madoff Trustee Reaches Recovery Agreement of $140 Million with Feeder Fund Plaza Investments International & Notz, Stucki Management (Bermuda) Limited
Total BLMIS Customer Fund Recoveries & Agreements Will Now Be More than $10.874 Billion

Monday, June 01, 2015

SIPC Praises Madoff Trustee on Recovery Agreement of $35 Million with Feeder Funds

More SIPC News


Message from the Board of Directors


Developments Regarding the SIPC Board

In June 2014, SIPC Acting Chairman Sharon Y. Bowen resigned from the SIPC Board and was sworn in as a Commissioner of the U. S. Commodity Futures Trading Commission. SIPC and its Board are grateful to Ms. Bowen for her service as a Director, and as Acting Chair. We wish her well.

In September 2014, SIPC welcomed Director Mark Kaufman to its Board as a government director. Prior to joining the Department of the Treasury as Counselor to the Deputy Secretary, Mr. Kaufman served as the Maryland Commissioner of Financial Regulation, where he led supervision of state chartered banks, and directed vigorous efforts to address foreclosure servicing problems, illegal online payday lending, and abusive debt collection practices. In recognition of his contributions to consumer protection, he was named Consumer Advocate of the Year by the Maryland Consumer Rights Coalition in 2014. The Board congratulates Director Kaufman for this well-earned award. The Board also expresses its appreciation to the outgoing SIPC Director from the Treasury Department, former Assistant Secretary for Financial Institutions Cyrus Amir-Mokri.

Major Existing Cases

SIPC initiated no new customer protection proceedings in 2014. Happily, developments in existing liquidations allowed for significant distributions in SIPC’s largest cases.

Including court-approved settlements, the trustee in the Madoff liquidation recovered more than $1 billion in 2014, which brought total amounts recovered through year-end to $10.55 billion. Although the trustee continues to hold amounts in reserve pending the outcome of litigation, the court-approved distributions of customer property through February 2015, combined with SIPC advances, resulted in every customer with an allowed claim of $976,592 or less, being fully satisfied. Through February 2015, the trustee distributed $7.21 billion which included $694.18 million in SIPC advances. In addition to its advances for customers, SIPC continued to advance funds to pay the administrative expenses of the liquidation, including those associated with the trustee’s recovery efforts. No customer funds are used for that purpose. With SIPC’s support, the Madoff trustee’s efforts to maximize amounts returned to customers will continue into 2015. In 2014, the signature achievement in the Lehman Brothers liquidation was the resolution of a large volume of claims, and the distribution of assets to a variety of classes of creditors. The trustee substantially completed a 100% distribution exceeding $105 billion, to over 111,000 claimants. The trustee also made 100% distributions to secured and priority creditors, which totaled in excess of $250 million. In addition, the trustee made a first interim distribution of more than $3.4 billion (17 cents on the dollar) to more than 3,000 general unsecured creditors, and established court-approved reserves for all outstanding claims. To date, the trustee has resolved over 13,000 general creditor claims totaling $123 billion, with more than 6,000 general creditor claims asserted in an aggregate of $11 billion being resolved in 2014 alone.

In addition to distributions, the trustee made substantial progress in asset recovery efforts, including the recovery of more than $560 million from Lehman affiliates, and an additional $30 million in recoveries from third parties. Asset sales in 2014 yielded more than $430 million, adding to a total of over $7.5 billion realized by the estate. All told, since Lehman’s collapse in September 2008, the trustee has administered approximately $122 billion to customers or for administrative advances, at no cost to SIPC.

In the MF Global liquidation, the trustee largely completed the distribution of over $6.2 billion in property to MFGI’s securities and futures customers, representing a return of 100% of the property owed to the more than 26,000 affected customers with allowed claims. The trustee continued to work to resolve outstanding claims against MFGI’s general estate, and, by the end of 2014, had resolved nearly all of those claims. The trustee sought and obtained court permission to make 100% distributions on allowed claims for administrative expenses and secured and priority claims against MFGI’s general estate, along with a first interim distribution to unsecured estate creditors of 39% of the property owed to them. The trustee has now commenced those distributions, and expects to be able to make additional distributions to unsecured creditors as required reserves for administrative expenses are reduced and as the estate receives additional recoveries from various sources.

The Board looks forward to building on these positive events in the coming year.