WASHINGTON, D.C. – October 7, 2025 - The Securities Investor Protection Corporation (SIPC) today announced the issuance of a Request for Proposal (RFP) to solicit bids from qualified firms to conduct an empirical study examining the adequacy of the SIPC Fund.
The SIPC Fund is a special reserve maintained by SIPC to protect investors should a member brokerage firm fail. This study is required by the SIPC Bylaws to inform the setting of the appropriate rate of assessment on SIPC member brokerage firms.
The congressionally created non-profit corporation is seeking to engage one or more vendors to execute a comprehensive analysis of its financial posture. SIPC has commissioned similar studies at periodic intervals in the past.
The selected vendor will be tasked with developing a comprehensive risk profile for SIPC and providing data to inform decisions on member assessment rates. Key areas of the study include:
- Data Collection and Historical Analysis: Reviewing and segmenting historical SIPC claims data into typically-sized claims and large, extraordinary claims.
- Frequency and Severity Modeling: Quantifying the probability of broker-dealer failure and estimating the likely financial impact of future claims.
- Future Fund Projections: Modeling the future progression of the SIPC Fund based on estimated future claims, operational expenses, member assessment rates, and relevant legal/market factors.
- Emerging Technology Review: Examining the extent to which emerging technologies, such as Generative AI, could be leveraged in the analysis of SIPC’s risk profile.
The analysis is expected to consider various economic and market factors, including bank failure risk, changes in the financial services framework, and failure risk of Systemically Important Financial Institutions (SIFIs).
Interested vendors should note the following deadlines:
| Activity | Deadline |
|---|---|
| Request for Proposal Issued | October 7, 2025 |
| Deadline for Intent to Respond | October 31, 2025, 4:00 PM EDT |
| Deadline for Vendor Questions | November 7, 2025, 4:00 PM EDT |
| Deadline for RFP Response | December 5, 2025, 12:00 PM EDT |
| Final Report Furnished to SIPC | July 1, 2026 |
All communications regarding the RFP must be channeled through the designated SIPC RFP email account specified in the RFP.
Created by Congress, SIPC was established as a nonprofit under the Securities Investor Protection Act of 1970. It is tasked with creating and administering a Fund that is used to restore investors’ missing assets in the event of a brokerage firm failure. Since 1971, through 330 liquidation proceedings and direct payment procedures, SIPC has distributed more than $142 billion for the benefit of more than 773,000 investors who otherwise might have lost their life savings.