SIPC Reference Documents
SIPC and Its Accountability to American Investors - Click here for presentation.
President Nixon’s Statement on Signing SIPA of 1970 – “I AM SIGNING today the Securities Investor Protection Act of 1970. This legislation establishes the Securities Investor Protection Corporation (SIPC), a private nonprofit corporation, which will insure the securities and cash left with brokerage firms…”
FINRA – Investor Alert – If a Brokerage Firm Closes Its Doors – “SIPC insurance comes into play in those rare cases of firm failure where customer assets are missing because of theft or fraud.”
SIFMA/SIPC/NASAA – Understanding your Brokerage Account Statements – “In the unlikely event your brokerage firm fails, you will need to prove that cash and/or securities are owed to you. This is easily done with a copy of your most recent statement…“
2011 SEC SIPC Audit - states “If the Commission is aware of facts that lead it to believe that any broker-dealer is approaching financial difficulty, the Commission must immediately notify SIPC.”
2000 SEC SIPC Audit - states “the Act protects customers whose securities were misappropriated, never purchased, or stolen.”
SEC 37th Annual Report - states “This legislation, the most important in the securities field in 30 years, established the Securities Investor Protection Cooperation to provide insurance for customer accounts.”
The House Committee on Energy and Commerce Democrats -August 2003
The House Committee on Energy and Commerce Democrats – March 2001
The House Committee on Energy and Commerce Democrats – April 2000
The House Committee on Energy and Commerce Democrats – November 1999
GAO Report – July 2003
GAO Report – May 2001
GAO Report – September 1992
Articles:
U.S. Report Faults Agency … – NY Times – June 2001
Investor Beware – NY Times – September 2000
SIPC’s Scroogelike Ways Draw Scrutiny – www.thestreet.com – August 2000
Many Unhappy Returns… – Newsday – December 1998
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