Update: Warning Re-Issued on Bogus "SIPC Checks" Targeting U.S. Consumers and Job Seekers
WASHINGTON, D.C. - August 23, 2010 - The Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund mandated by Congress to protect the customers of insolvent brokerage firms, again warned today that consumers and job seekers should not accept SIPC checks that are presented online or in person by con artists seeking to buy personal goods or engage individuals for work ... (more)
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The Dodd-Frank Bill Amends Sections of the Securities Investor Protection Act
WASHINGTON, D.C. - July 29, 2010 - The Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. 111-203, 124 Stat. 1376 (2010) (the "Dodd-Frank Act"), signed into law on July 21, 2010, amends portions of the Securities Investor Protection Act, 15 U.S.C. §78aaa et seq. ("SIPA"). The Securities Investor Protection Corporation ("SIPC") highlights some of the amendments below. These amendments apply to SIPA liquidations filed on or after July 22, 2010, the effective date of the Dodd-Frank Act, and do not apply to liquidations that currently are pending ... (more)
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SIPCModernization.org Launched to Gather Public Input, Task Force to Undertake Review
WASHINGTON, D.C. - June 17, 2010 - The Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund mandated by Congress to protect the customers of insolvent brokerage firms, today launched a new Web site, http://www.SIPCModernization.org, and also announced the formation of a 13-member SIPC Modernization Task Force. The twin efforts are part of a full-scale review of the operations of SIPC, which has not been the focus of major new legislation in 30 years ... (more)
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