“Madoff victims take on the pyramids”, Politico, Chris Frates, 9/29/10.
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“Madoff victims take on the pyramids”, Politico, Chris Frates, 9/29/10. The following appeared in this morning’s Roll Call, The Newspaper of Capital Hill: Mad at Madoff The following appeared in this morning’s Roll Call, The Newspaper of Capital Hill: Mad at Madoff The Network for Investor Action and Protection, a group that represents Madoff victims and other investors who have been duped by Ponzi schemes, is advocating for more stringent legal protections for investors and tougher oversight by the Securities Investor Protection Corp. According to [...] “Congress may consider SIPC reforms, may cover advisers”, Thomson Reuters, Ted Knutson, September 24th, 2010. FOR IMMEDIATE RELEASE LONG OVERDUE REVIEW OF THE SECURITIES INVESTOR PROTECTION CORPORATION RECEIVES HEARING; NIAP URGES FINANCIAL SERVICES COMMITTEE TO KEEP PRESSURE GOING The recent ponzi schemes that vanquished the retirement savings of thousands of Americans exposed serious flaws in the nation’s investor protection laws. Today, Congress will finally start examining how the Securities Investor Protection Corporation (SIPC) can better protect investors from criminals who are not playing by the rules. Read Ron Stein’s article in The Hill’s Congress Blog here. www.madoff-help.com in collaboration with NIAP – Network for Investor Action & Protection is forging ahead with a legislative agenda to address SIPA and [...] LONG Overdue Review of the Securities Investor Protection Corporation TO FINALLY GET HEARING NEXT WEEK With Congress poised to examine how the Securities Investor Protection Corporation (SIPC) can better protect investors, the Network for Investor Action and Protection (NIAP) urged the House Financial Services Committee to closely scrutinize the agency at a hearing The Securities Investor Protection Corporation (SIPC) will hold its first-ever online forum at 8 p.m. EDT/5 p.m. PDT on September 14, 2010. Click here for link to SIPCModernization.org 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. Following is a press statement from Ron Stein, President of NIAP regarding the LA Times column on the Securities Investor Protection Corporation: “NIAP strongly advocates a thorough examination of the Securities Investor Protection Corp. to ensure more comprehensive protection of innocent investment fraud and broker-dealer failure victims. It is very clear that SIPC is inconsistent, unfair and sluggish in the way it handles investor claims and that it was unprepared to handle large-scale, complex brokerage failures.” Hi All – Some good news. We noted in our last update (click here update) that we’d requested that Congressman Kanjorski’s office demand that SIPC turn over the kinds of details that will help to “score” HR5032, a necessary procedural step regarding this legislation. We are heartened to tell you that the demand letter has been received by SIPC. This is a major success in that it may finally begin to shed light on some of the information [...] |
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