GARRETT ASKS SIPC: WHERE’S THE MONEY GOING?
Chairman of the Subcommittee on Capital Markets, Congressman Scott Garrett (R-NJ), has requested a detailed breakdown
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GARRETT ASKS SIPC: WHERE’S THE MONEY GOING? Chairman of the Subcommittee on Capital Markets, Congressman Scott Garrett (R-NJ), has requested a detailed breakdown UPDATE: A NOTE FOR INDIRECT INVESTORS…. Dear Friends – With the introduction of the Garrett legislation, I wanted to take a moment to address the concerns of indirect investors who feel that NIAP has not properly supported their issues. First, we do understand your concern and request that all sides pursue a level of respectful discourse as we try to move forward on several fronts. NIAP has, and will continue to advocate for indirect investors in our lobby efforts, and the [...] First, let’s take a moment to celebrate this small, but significant victory. As you know by now, HR 757 – the “Equitable Treatment of Investors Act” — has been introduced for the 2011-2012 Congressional session by Congressman Garrett, the new Chair of the House Subcommittee on Capital Markets. This could not have happened without your help and our lobbyists’ tireless efforts. If you read the Congressman’s comments that were submitted with the bill (attached to Ilene’s prior [...] Ron Stein, President of the Network for Investor Action and Protection (NIAP), Statement on Introduction of Equitable Treatment of Investors Act: Madoff: Banks Had to Know About Fraud, NBC New York, Alice McQuillan & Sara Frazier, February 16th, [...] UPDATE: SIPC AND TAX LEGISLATION ISSUES Greetings -Last week we brought you up to speed on the Madoff trustee sues Daibes, Andrew Tangel, The Record, February 8th, [...] We know how anxious everyone is to receive information about this case and we will provide more information soon from the attorneys about the process and what BLMIS investors can expect. The entire hearing on March 3 will be very short, and most likely will be less than one hour. The Victims’ lawyers will get 20 minutes, SIPC and the Trustee will get 8 minutes, and the SEC will get 8 minutes to present their oral arguments. The arguments [...] UPDATE AND BATTLE STRATEGY ON GARRETT LEGISLATION Hi All – So here we are in the middle of something many have dreaded for a long time – clawback. The Trustee and SIPC have followed their ghastly course of action in serving complaints indiscriminately against both the innocent and the culpable. We have fought mightily against this for a long time, and we will continue to do so. We see the battle in Congress as an adjunct to the battle [...] |
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