Lawmakers turn up heat on SIPC over delays in Stanford case

A group of House members who represent districts with high concentrations of Stanford investors sent a letter to SIPC Chairman Orlan Johnson Tuesday, urging executives at the industry-funded insurance pool to make a decision. The Securities and Exchange Commission dithered on the issue of SIPC coverage for more than two years before finally deciding in June that coverage was warranted. The SEC decision came after pressure from members of Congress, which was examining the SEC’s poor handling of the Stanford investigation. Read Houston Chronicle report here.

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