WASHINGTON, D.C. – August 13, 2018 – The Securities Investor Protection Corporation (SIPC) is pleased to announce the availability of an electronic filing system for customers (and other claimants) filing claims in the event of brokerage failures. This creates an alternative to previous paper filing requirement.
“SIPC has been working to create an electronic filing option for customers,” said Stephen P. Harbeck, President and CEO of SIPC. “This system provides customers with the ability to eliminate paper and provides the advantage of having an electronic record of the submitted claim.”
Online filing will be available in cases where SIPC is acting as the trustee in a liquidation or during a direct payment proceeding. If a brokerage firm fails or closes, brokerage customers who are required to receive notice of proceedings will continue to receive those notices by mail and given instructions for completing claims forms online. Claimants will still have the option to mail paper copies of their claims forms .
For more detail about the claims filing process, please visit https://www.sipc.org/cases-and-claims.
The new electronic filing system was developed by Epiq, a bankruptcy solutions provider.
“Inventive workflow solutions and nationally recognized expertise are cornerstones of our corporate solutions offering. We were very pleased to work in conjunction with the SIPC team to make this service available to their customers,” said Bob Hopen, president, class action and corporate restructuring, Epiq.
The Securities Investor Protection Corporation is the U.S. investor's first line of defense in the event of the failure of a brokerage firm owing customers cash and securities that are missing from customer accounts.
Epiq, a global leader in the legal services industry, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at www.epiqglobal.com.