Newspaper article from our research archive:
|
|
A Failed Broker Won't Crack a Nest Egg.
- Article from:
-
Kiplinger's Retirement Report
- Article date:
-
May 1, 2008
|
Copyright informationCOPYRIGHT 2008 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
THE NEAR-FAILURE of Bear Stearns struck fear in the hearts of many investors who wondered what would happen to their nest eggs if their brokerage firms went belly up. Little need to worry. There are protections in place that should keep your savings secure if your broker goes bankrupt.
The main line of defense is the Securities and Exchange Commission. The SEC's net-capital rule requires registered broker-dealers to maintain enough financial resources to cover customers' cash and securities in the event the firm fails. Broker-dealers must also segregate client assets from the broker's own assets. This rule protects investors' assets from the firm's own trading losses.
...
|
SIPC's tightly drawn purse tapped for record payout: as claims soar,...
Investment News;
March 12, 2002 ;
Hansard, Sara;
787 words
......examining its mandate. Based in Washington, the SIPC has come under heavy criticism in recent...distributed within the narrow confines of the SIPC's mandate and did not reflect a change...the largest liquidation handled by the SIPC in the more than 30 years it has been in...
|
|
|
Investor relief or grief? To fulfill its mandate, SIPC sues fraud...
Investment News;
March 17, 2003 ;
787 words
......Donahue. The suits are another black eye for the SIPC, say critics of the quasi-public agency. ``[The SIPC] can do so much more to insure the integrity...administrators see their role more as preserving the SIPC [$1.27 billion] reserve than providing investors...
|
|
SIPC Advises Investors to Ignore E-Mail-Based 'Phishing' Schemes for...
PR Newswire;
February 4, 2004 ;
787 words
......Securities Investor Protection Corporation (SIPC) cautioned investors today that it does...brokerage account numbers or other data. SIPC maintains a special reserve fund mandated...customers of insolvent brokerage firms. SIPC President Stephen Harbeck said: While the...
|
|
|
Securities Investor Protection Corporation (SIPC) Launches Spanish...
PR Newswire;
August 17, 2005 ;
653 words
......The Securities Investor Protection Corporation (SIPC) announced today that it has unveiled a Spanish language version of its Web site at http://www.sipc.org/espanol/. SIPC maintains a special reserve fund mandated by Congress...
|
|
|
SIPC Announces New Ad Rules Designed to Ensure More Information for...
PR Newswire;
May 8, 2002 ;
787 words
......Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund...brokerage firms that choose to explain what SIPC is to include language mentioning the nonprofit organization's Web site at http://www.sipc.org/ . The new step to highlight the overhauled...
|
|
|
SIPC Announces Major Campaign to Educate Investors; English/Spanish Public...
PR Newswire;
July 10, 2002 ;
787 words
......Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund...understanding of the extent and limits of SIPC protections. The new PSA campaign, Protect...service announcements, go to http://www.sipc.org/streaming.html . The SIPC public service...
|
|
Don't Bank on SIPC Protection; Critics Seek to Widen Investor Insurer's...
The Washington Post;
July 25, 1999 ;
Albert B. Crenshaw;
787 words
......ubiquitous Securities Investor Protection Corp. (SIPC) logo with the Federal Deposit Insurance...see at banks. Their advice: Don't. The SIPC is designed to make sure that if a brokerage...if a brokerage goes into bankruptcy, the SIPC makes sure that securities are returned...
|
|
|
SIPC Names Stephen P. Harbeck as New President and CEO.
PR Newswire;
December 1, 2003 ;
642 words
......Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund...organization. Harbeck joined the legal staff of SIPC in 1975 and was promoted to general counsel...formerly held by Michael Don, who served as SIPC president from 1995-2003 and retired in...
|
|
|
SIPC: 2001 Set Record for Number of Customers Paid, Amount of Advances;...
PR Newswire;
March 13, 2002 ;
787 words
......Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund...investors in 2000. The payments made by SIPC to investors in 2001 were roughly twice...net advances refers to money drawn from SIPC's reserves (in the absence of sufficient...
|
|
SIPC To Pay $31M in Sunpoint Claims
AP Online;
June 19, 2000 ;
MARCY GORDON, AP Business Writer;
693 words
......AP Business Writer AP Online 06-19-2000 SIPC To Pay $31M in Sunpoint Claims WASHINGTON...been transferred to other brokerage firms. SIPC said it acted so quickly that most of the...proceedings for Sunpoint began last November. SIPC is announcing the payment Tuesday, the...
|
|
|
SIPC and Canadian Counterpart to Coordinate on Brokerage Firm Insolvencies...
PR Newswire;
April 13, 2005 ;
575 words
......bankrupt and otherwise financially troubled brokerage firms. SIPC was not chartered by Congress to combat fraud. To read about SIPC's limited role in investor protection, go to How SIPC Protects Investors at http://www.sipc.org/how/sipcprotects.cfm. SIPC either acts as trustee or works with ...
|
|
|
SIPC Now Identifying Customers of NYC Brokerage Firm Undergoing...
PR Newswire;
December 28, 2006 ;
530 words
......Securities Investor Protection Corporation (SIPC) is conducting an inventory of the assets...customers of the now-shuttered brokerage firm. SIPC was appointed earlier this month by a federal...was an employee at the brokerage firm. SIPC was created by Congress to maintain a special...
|
See all results.
Or, try our
Advanced Search.
|