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HR5032 Update - 08/24/10

Greetings. As many of you know, this has been a busy time on both the legal and legislative fronts. There has been much attention on the legal side as attorneys have filed their briefs on net equity with the US Federal Court of Appeals (NAIP has filed an amicus brief as well). The focus of this update, however, will be on the legislative front, particularly HR 5032 – the Ponzi Victims Investor Protection Act of 2010.

Brief Filings - Update

Several briefs have been filed over the past two weeks on net equity appeal and customer motion. We have made available many of these briefs on the www.madoff-help.com website under Court Filings (see Net Equity and Customer Motion Section). Click here to visit website and access briefs.

www.madoff-help.com in collaboration with NIAP – Network for Investor Action & Protection is forging ahead with a legislative agenda to address SIPA and IRC relief for fraud victims. Click here to Donate now.
Not a [...]

Court of Appeals Accepts NIAP Amicus Brief

Yesterday, the 2nd Circuit Court of Appeals grants NIAP’s motion to file an amicus brief in support of appellants.
Click here for court order of acceptance.
Click here for NIAP’s Brief.

www.madoff-help.com in collaboration with NIAP – Network for Investor Action & Protection is forging ahead with a legislative agenda to address SIPA and IRC relief for fraud victims. Click here to Donate now.
Not a NIAP member? Click here to register (Membership is free).

 Sourced from: Madoff Help News & Assistance

 Madoff Victims Seek Further Changes In Wall Street Reform

On the heels of the passage in Congress of the sprawling Wall Street Reform and Consumer Protection Act, lawmakers backed by victims of the Madoff Ponzi scheme are seeking additional changes that will protect small investors wiped out when investment houses go belly up. Read full excerpt in The Washington Bulletin here.

NIAP Files Amicus Brief In Support of Net Equity Appeal

Network for Investor Action and Protect today has filed an Amicus Brief with the US Court of Appeals for the Second Circuit in support of appellants and supporting reversal of Net Equity ruling. The background and context of this case, both over the decades and recently, supports the Appellants’ claim that the decision should be reversed. Click here to read full brief.

H.R. 5032 Co-sponsors

Jackie Speier [D-CA12]

James Himes [D-CT4]
Ed Perlmutter [D-CO7]

Ileana Ros-Lehtinen [R-FL18]
Ted Deutch [D-FL19]
Ron Klein [D-FL22]
Alcee Hastings [D-FL23]

James McGovern [D-MA3]

Bennie Thompson [D-MS2]

Carol Shea-Porter [D-NH1]
Paul Hodes[D-NH2]

Steven Rothman [D-NJ9]

Timothy Bishop [D-NY1]
Steve Israel [D-NY2]
Peter King [R-NY3]
Carolyn McCarthy [D-NY4]
Joseph Crowley [D-NY7]
Michael McMahon [D-NY13]
Nita Lowey[D-NY18]
John Hall [D-NY19]
William Ownes [D-NY23]
Daniel Maffei [D-NY25]
Carolyn Maloney [D-NY14]
Anthony Weiner [D-NY9]

Steve Cohen [D-TN9]

Al Green [D-TX9]

Glenn Nye [D-VA2]

NIAP Statement on Planned Sept. Hearing

8/2/10

Network for Investor Action and Protection Media Statement

Following is a press statement from Ron Stein, President of the Network for Investor Action and Protection, on the planned September House Financial Services Committee hearings to assess the limitations of the Securities Investor Protection Act:

Kanjorski Announces September Hearing to Assess Limitations of the Securities Investor Protection Act

Congressman Paul E. Kanjorski (D-PA), the Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, announced today that he will convene a September hearing to assess the limitations of the Securities Investor Protection Act (SIPA), a law that works to return money and securities to the customers of failed brokerages. The hearing comes at the request of Congressman Gary L. Ackerman (D-NY), the Vice Chairman of the Capital Markets Subcommittee, and builds on [...]