<<Oct 2022>>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

H.R. 5852

HR 5852, introduced on July 14th by Rep. Blaine Luetkemeyer (R-MO), and co-sponsored by Rep. Carolyn Maloney (D-NY), and House Rules Committee Chairman Rep. Pete Sessions (R-TX), is a slightly scaled-back version of HR3482 and S1725, previously introduced by Rep. Scott Garrett (R-NJ), Rep. Maloney, and Senator Schumer. The legislation has been referred to the House Financial Services Committee.

The “fresh bill”, maintains the key protections of the earlier legislation: it reasserts the SEC’s plenary authority over SIPC, utilizes final account statements as determinants of net equity, protects against the clawback of innocent investors, and provides a funding mechanism for SIPC to finance payments to claimants should the SIPC Fund balance be reduced by more than 50%.

Click here for more.

Share This Page:
  • email
  • Facebook
  • Twitter
  • LinkedIn