560:
difficulties or failure of such firms. ... I urged the formation of a corporation to afford protection to small investors. ... Just as the
Federal Deposit Insurance Corporation protects the user of banking services from the danger of bank failure, so will the Securities Investor Protection Corporation protect the user of investment services from the danger of brokerage firm failure. This act protects the customer, not the broker, since only the customer is paid in the event of firm failure. It does not cover the equity risk that is always present in stock market investment, but it will assure the investor that the solvency of the individual firm with which he deals will not be cause for concern. It protects the small investor, not the large investor, since there is a limit on reimbursable losses. And it assures that the widow, the retired couple, the small investor who have invested their life savings in securities will not suffer loss because of an operating failure in the mechanisms of the marketplace.
276:
officers and employees of the
Department of the Treasury and the from among the officers and employees of the Federal Reserve Board, respectively. The remaining five members are appointed by the President, by and with the advice and consent of the Senate. Of these five members, three shall be selected from among persons who are associated with, and representative of different aspects of, the securities industry, not all of whom shall be from the same geographical area of the United States. The other two members shall be selected from the general public from among persons who are not associated with a broker or dealer or associated with a member of a national securities exchange, or similarly associated with any self-regulatory organization or other securities industry group, and who have not had any such association during the two years preceding appointment.
601:
cash. In most cases where a brokerage firm has failed or is on the brink of failure, SIPC first seeks to transfer customer accounts to another brokerage firm. Should that process fail, the insolvent firm will be liquidated. In order to state a claim, the investor is required to show that their economic loss arose because of the insolvency of their broker-dealer and not because of fraud, misrepresentation, or bad investment decisions. In certain circumstances, securities or cash may not exist in full based upon a customer's statement. In this case, protection is also extended to investors whose "securities may have been lost, improperly hypothecated, misappropriated, never purchased, or even stolen".
706:(FDIC) which protects bank customers, the SIPC has wider discretion in satisfying customer claims. When securities are missing, it can arrange to provide either replacement securities of the same kind, or their cash value on the date that its trustee was appointed to the case. The SIPC does not protect investors against any loss in the value of their securities, nor does it assume responsibility for any promises about investment performance. Unregistered securities and commodity contracts are not covered by the SIPC, even when brokered by a member firm. Account disputes with a brokerage that remains in business are not handled by the SIPC, but typically by the
27:
574:
number of errors in recording transactions multiplied. ... In
December 1968, member firms of the New York Stock Exchange had $ 4.4 billion in "fails to deliver" and $ 4.7 billion in "fails to receive." Brokers and dealers were finding it difficult, if not impossible, to ascertain their own financial condition. ... This operational and financial crisis forced more than one hundred brokerage firms into liquidation causing thousands of customers to be seriously disadvantaged.
771:(FINRA), the investors' and the brokerage firms' assets must be segregated; they may not be commingled. It could be a civil or criminal violation if an investor's assets were inappropriately commingled. If the firm files for bankruptcy, provided the assets have been appropriately segregated, the investor's assets may be recoverable beyond SIPC's protection limit if the assets are recoverable.
717:
Inasmuch as SIPC does not insure the underlying value of the financial asset it protects, investors bear the risk of the market. In addition, investors also bear any losses of account value that exceed the current amount of SIPC protection, namely $ 500,000 for securities. For example, if an investor
600:
fails. First, the SIPC acts to organize the distribution of customer cash and securities to investors. Second, to the extent a customer's cash and/or securities are unavailable, the SIPC can pay the customer (via its trustee) up to $ 500,000 for missing equity, including up to $ 250,000 for missing
275:
The SIPC has a Board of
Directors which determines the policies that govern the operations of the SIPC. The board consists of seven members. All members serve for terms of three years. Two members of the board are appointed by the Secretary of the Treasury and the Federal Reserve Board from among the
690:
For example, if an investor had two Roth IRAS of $ 400,000 each, and an individual (non-IRA) account with $ 500,000, the two Roth IRAs would be considered a single "capacity" and the $ 800,000 sum would only be covered to the $ 500,000 limit (so $ 300,000 would be lost). The individual account is a
573:
An explosion in the volume of trading had occurred. A system designed to handle an average three million share trading day was incapable of dealing with the thirteen million share trading day common in the late 1960s. The resultant breakdown in the securities processing mechanism caused chaos as the
660:
If an investor has multiple accounts at a failing brokerage, the $ 500,000 limit is not strictly applied per account, instead, the notion of "capacity" is used by the SIPC, and the $ 500,000 (or $ 250,000) limit is applied per capacity. Multiple accounts are aggregated into capacities. The list
722:
to the investor and should be recoverable. However, if the value of XYZ declines, SIPC does not insure the difference. In other words, the $ 500,000 limit is to protect against broker malfeasance, not poor investment decisions and changes in the market value of securities. In addition, SIPC may
586:
The economic function of the securities markets is to channel individual institutional savings to private industry and thereby contribute to the growth of capital investment. Without strong capital markets it would be difficult for our national economy to sustain continued growth. ... Securities
758:
In the Madoff fraud, where securities had allegedly not actually been purchased, SIPC and the SIPC Trustee challenged and disposed of the claims of approximately one-half of customers of the Madoff firm, arguing that over the course of time those investors had withdrawn more funds than had been
766:
If the brokerage becomes insolvent, there are some situations where the investors assets may be recovered beyond the $ 500,000 insurance limit, for example, if the investor's specific assets can be identified and recovered. Under rules of the regulatory SRO governing brokers and dealers—the
559:
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 by investors against loss from financial
587:
brokers support the proper functioning of these markets by maintaining a constant flow of debt and equity instruments. The continued financial wellbeing of the economy thus depends, in part, on public willingness to entrust assets to the securities industry.
1182:
For a general discussion, see Steven
Lessard, E.U. RE-HYPOTHOCATION AND LEHMAN BROTHERS BANKRUPTCY: CHANGES THAT MUST BE MADE TO THE MIFID, Appearing in Folsom, Gordon, Spangle, INTERNATIONAL BUSINESS TRANSACTIONS PRACTITIONERS TREATISE (2010 Treatise
2480:
1024:
2490:
68:
To work to return customers' cash, stock, other securities, and other property when a brokerage firm is closed due to bankruptcy or other financial difficulties and customer assets are missing.
2485:
1816:
1728:
957:
Thomas W. Joo, Who
Watches the Watchers? The Securities Investors Protection Act, Investor Confidence, and the Subsidization of Failure, 71 S. CAL. L. REV. 1071, 1077; H.R. Rep. No. 92-1519
2210:
2495:
2277:
2074:
1333:
2123:
1975:
1360:
723:
protect investors against unauthorized trades in their account, while the failure to execute a trade is not covered. Again, this only pertains to an insolvent broker or dealer.
1512:
797:
2196:
2095:
1844:
1968:
1751:
1523:
547:, Congress chose to enact legislation that could prevent an escalation of brokerage firm insolvencies and help stabilize the financial markets. In December 1970, Senator
1482:
1468:
1023:
Originally SIPC protection was limited to $ 50,000 for securities. SIPA was amended in 1978 and raised the securities' protection to $ 500,000, where it remains today.
1496:
1426:
2240:
2102:
2355:
1924:
2175:
1982:
256:
2383:
1075:
S. Rep. No. 95-763 (1978), as reprinted in 1978 U.S.C.C.A.N. 764, 765; H.R. Rep. 95-746 at 21 (1977) |title=SIPC Chairman Owens in reports to House and Senate
240:
1505:
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1232:
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The SIPC was born in the shadow of the "Paperwork Crunch" of 1968–70 as a means to restore confidence in the U.S. securities market. During this period,
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2141:
1353:
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2409:
1781:
1387:
1378:
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In response, the
Securities Investor Protection Act of 1970 was enacted as a way to quell investor insecurity and save the securities market from a
2305:
2130:
2019:
1998:
780:
768:
707:
232:
551:
pushed forward a bill to create a
Federal Broker Dealer Insurance Corporation. A compromise with the House resulted in the SIPA, which President
259:
nor a regulator of broker-dealers. The purpose of the SIPC is to expedite the recovery and return of missing customer cash and assets during the
2203:
1881:
1489:
2500:
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2159:
1931:
786:
703:
1721:
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1412:
1346:
1328:
711:
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buys 100 shares of XYZ company from a brokerage firm and the firm declares bankruptcy or merges with another, the 100 shares of XYZ still
2028:
2012:
1735:
1394:
2116:
2035:
1952:
1874:
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641:
252:
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2166:
1689:
802:
2217:
2152:
1246:
Letter to Gene L. Dodaro
Comptroller General of the United States Government Accountability Office from Congress requesting probe
657:
The SIPC coverage limit is $ 500,000 (net equity) per cash/securities account; and $ 250,000 for cash-only accounts, as of 2023.
2448:
2254:
1938:
1853:
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582:. In his introduction of the Securities Investor Protection Act to the floor of the Senate, Senator Edmund Muskie stated:
555:
signed into law at the end of the month. Excerpts from the President's statement made clear the goals of the legislation:
968:
2270:
2263:
1802:
1744:
26:
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2005:
1532:
1369:
731:
The limitations of SIPC protection caused significant confusion among a number of investors following the collapse of
1989:
1767:
832:
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The President designates a chairman and vice chairman from among those directors selected from the general public.
1305:
1293:
999:
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544:
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617:
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94:
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1959:
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938:"Richard Nixon. Statement on Signing the Securities Investor Protection Act of 1970. December 30, 1970"
386:
510:
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1638:
1218:
1057:
Securities' and Exchange Commission v. S.J. Salmon & Co., Inc., 375 F.Supp.867 (S.D.N.Y., 1974).
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A director may serve after the expiration of his term until his successor has taken office.
205:
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are not covered. Investment contracts, certificates of interest, participations in
1830:
1121:
SIPC Series 100 Rules, 17 C.F.R. §§300.100-300.105 As Amended Through June 1981,
925:
752:
732:
1945:
1546:
1475:
260:
77:
1110:
969:"TOWARD THE UNCERTIFICATED SECURITY: A CONGRESSIONAL LEAD FOR STATES TO FOLLOW"
897:
1901:
1631:
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937:
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1251:
Miscellaneous Congressional testimony and other information regarding Madoff
840:
57:
1233:"Madoff Trustee's Actions to Be Probed by GAO, Representative Garrett Says"
1758:
605:
1309:
1297:
1223:
1162:
1089:
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distinct capacity and would be covered for its full $ 500,000 value.
1285:
637:
609:
1274:
1284:. Madoff Coalition For Investor Protection (CIP). Archived from
1342:
1066:
In re Bell & Beckwith, 124 B.R. 35 (Bankr. N.D. Ohio 1990).
251:. Although created by federal legislation and overseen by the
247:(SIPA) of 1970 that mandates membership of most US-registered
604:
While customers' cash and most types of securities - such as
290:
The current members of the board, as of September 12, 2024:
1123:
https://www.sipc.org/about-sipc/statute-and-rules/series100
2211:
National Emissions Standards for Hazardous Air Pollutants
739:
and perhaps, most prominently, following the exposure of
220:
214:
2278:
Marine Protection, Research, and Sanctuaries Act of 1972
2075:
Congressional Budget and Impoundment Control Act of 1974
1264:
187:
833:
Form 990: Return of Organization Exempt from Income Tax
2124:
Emergency Daylight Saving Time Energy Conservation Act
596:
The SIPC serves two primary roles in the event that a
2481:
Financial regulatory authorities of the United States
1976:
National Institute for Occupational Safety and Health
763:", and, therefore, not eligible for SIPC protection.
223:
211:
2491:
Corporations chartered by the United States Congress
798:
Recovery of funds from the Madoff investment scandal
217:
2315:
2140:
2096:
Consolidated Farm and Rural Development Act of 1972
1900:
1752:
Federal Supplemental Educational Opportunity Grants
1699:
1522:
1377:
208:
183:
170:
159:
146:
133:
120:
104:
88:
72:
64:
53:
41:
33:
2486:Self-regulatory organizations in the United States
1027:increased the cash protection to $ 250,000 in 2010
2496:Government-owned companies of the United States
2241:National Oceanic and Atmospheric Administration
2103:Agriculture and Consumer Protection Act of 1973
1219:"Madoff Trustee, SEC Should be Probed -US Reps"
694:Annuities are not protected by SIPC insurance.
557:
1925:National Highway Traffic Safety Administration
545:near collapse of the financial markets in 1970
1983:Occupational Safety and Health Administration
1354:
8:
1111:https://www.sipc.org/about-sipc/sipc-mission
869:. Securities Investor Protection Corporation
19:
2197:Federal Environmental Pesticide Control Act
1810:Health Maintenance Organization Act of 1973
1775:Equal Educational Opportunities Act of 1974
940:. University of California at Santa Barbara
640:are not covered unless registered with the
2043:Securities Investor Protection Corporation
1361:
1347:
1339:
1275:Network for Investor Action and Protection
1194:"Madoff Recovery Initiative Claims Status"
1038:"SIPA. Securities Investor Protection Act"
887:Title 15 U.S.C. §78aaa et seq., as amended
837:Securities Investor Protection Corporation
827:
825:
823:
821:
819:
292:
197:Securities Investor Protection Corporation
25:
20:Securities Investor Protection Corporation
18:
2013:Lead-Based Paint Poisoning Prevention Act
565:The Paperwork Crunch and financial crisis
1782:Equal Employment Opportunity Act of 1972
1332:) is being considered for deletion. See
2306:Water Resources Development Act of 1974
2131:Trans-Alaska Pipeline Authorization Act
2020:Poison Prevention Packaging Act of 1970
1999:U.S. Consumer Product Safety Commission
857:
855:
853:
851:
849:
815:
781:Financial Industry Regulatory Authority
769:Financial Industry Regulatory Authority
708:Financial Industry Regulatory Authority
2204:National Ambient Air Quality Standards
1882:Legislative Reorganization Act of 1970
1196:. Madoff Trustee/Baker & Hostetler
727:SIPC application in unusual situations
2160:Environmental Quality Improvement Act
1932:Urban Mass Transportation Act of 1970
1817:Drug Abuse Prevention and Control Act
917:
915:
913:
787:Municipal Securities Rulemaking Board
704:Federal Deposit Insurance Corporation
620:- are protected, other items such as
7:
1722:Minority Business Development Agency
1271:Resources relative to Madoff fraud:
712:Commodity Futures Trading Commission
241:United States government corporation
2264:Great Lakes Water Quality Agreement
2029:Public Health Cigarette Smoking Act
1736:Alaska Native Claims Settlement Act
1667:Prevention of Nuclear War Agreement
1135:"Your Rights Under SIPC Protection"
759:invested, resulting in a negative "
2117:Emergency Petroleum Allocation Act
2036:Securities Investor Protection Act
1969:Occupational Safety and Health Act
1953:Economic Stabilization Act of 1970
1875:District of Columbia Home Rule Act
1294:"Stanford Victims Coalition (SVC)"
642:Securities and Exchange Commission
253:Securities and Exchange Commission
245:Securities Investor Protection Act
14:
2511:501(c)(6) nonprofit organizations
2232:Reorganization Plan No. 3 of 1970
2167:National Environmental Policy Act
1336:to help reach a consensus. ›
803:Canadian Investor Protection Fund
2218:New Source Performance Standards
2153:Council on Environmental Quality
702:Although modeled loosely on the
204:
2506:Investment in the United States
2255:Coastal Zone Management Program
2176:Environmental Protection Agency
1939:Federal-Aid Highway Act of 1973
1854:Federal Contested Elections Act
1838:Drug Enforcement Administration
1796:End Stage Renal Disease Program
2292:Endangered Species Act of 1973
2285:Endangered Species Act of 1969
1889:Congressional Research Service
1469:VP confirmation of Gerald Ford
1:
2110:Federal Energy Administration
1861:Federal Election Campaign Act
1646:Anti-Ballistic Missile Treaty
973:Washington and Lee Law Review
967:Guttman, Egon (Summer 1980).
674:Trust created under state law
16:American financial non-profit
2501:United States securities law
2271:Marine Mammal Protection Act
2183:Clean Air Amendments of 1970
1803:Supplemental Security Income
1745:Education Amendments of 1972
698:Does not cover loss in value
2248:Coastal Zone Management Act
2006:Consumer Product Safety Act
1789:National Cancer Act of 1971
1427:1970 Lincoln Memorial visit
1370:Presidency of Richard Nixon
1329:Presidency of Richard Nixon
632:, and oil, gas, or mineral
493:Department of the Treasury
2527:
2410:Senate Watergate Committee
1990:Permissible exposure limit
1768:Rehabilitation Act of 1973
1513:Presidential Proclamations
1314:Support and advocacy group
1161:. Sipc.org. Archived from
1088:. Sipc.org. Archived from
1002:. Sipc.org. Archived from
2442:
2299:Oil Pollution Act of 1973
1918:Fair Credit Reporting Act
1715:Revised Philadelphia Plan
1674:Threshold Test Ban Treaty
1109:SIPC Mission statement,
630:profit-sharing agreements
24:
2449:← Johnson administration
2082:Agricultural Act of 1970
1625:1973 Chilean coup d'état
1334:templates for discussion
1306:"Bernard Madoff Victims"
749:Stanford Financial Group
461:The securities industry
429:The securities industry
397:The securities industry
255:, the SIPC is neither a
2347:Saturday Night Massacre
2089:Farm Credit Act of 1971
2059:Alternative minimum tax
1000:"www.sipc.org/brochure"
618:certificates of deposit
2401:United States v. Nixon
2052:Tax Reform Act of 1969
1729:Native American policy
1708:Family Assistance Plan
1312:on September 5, 2011.
1159:"www.sipc.org/notfdic"
1040:. United States Courts
989:S.Rep.No 91-1218, at 2
805:(Canadian counterpart)
589:
576:
562:
521:Federal Reserve Board
60:membership corporation
2458:Ford administration →
1960:Smithsonian Agreement
1483:Judicial appointments
1086:"www.sipc.org/covers"
683:Executor of an estate
584:
571:
2363:White House Plumbers
1288:on October 20, 2013.
843:. December 31, 2017.
188:http://www.sipc.org/
84:20006, United States
2417:impeachment process
2333:Operation Sandwedge
2068:Revenue Act of 1971
1868:1970 VRA Amendments
1616:Shanghai Communiqué
1609:1972 visit to China
1561:Paris Peace Accords
1533:International trips
1413:Second inauguration
1300:on January 8, 2014.
793:Portfolio insurance
543:In response to the
365:The general public
333:The general public
142:Karen L. Saperstein
21:
2340:Operation Gemstone
1639:1972 Moscow Summit
1395:First inauguration
1238:Bloomberg Business
686:Guardian of a ward
665:Individual account
661:of capacities is:
419:William J. Brodsky
271:Board of Directors
243:created under the
2468:
2467:
2393:White House tapes
2384:list of opponents
2225:Noise Control Act
1824:Shafer Commission
1690:Space exploration
1660:Washington Summit
1554:Cambodian bombing
1462:1974 SOTU Address
1455:1973 SOTU Address
1448:1972 SOTU Address
1441:1971 SOTU Address
1434:1970 SOTU Address
1403:Bring Us Together
671:Corporate account
626:futures contracts
531:
530:
470:December 31, 2025
465:December 20, 2022
438:December 31, 2026
406:December 31, 2009
387:William S. Jasien
374:December 31, 2024
355:Glen S. Fukushima
342:December 31, 2026
257:government agency
239:, member-funded,
193:
192:
129:Charles E. Glover
2518:
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2015:
2008:
2001:
1992:
1985:
1978:
1971:
1962:
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1911:Bank Secrecy Act
1891:
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1595:
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1579:
1572:
1569:Peace with Honor
1563:
1556:
1549:
1542:
1535:
1515:
1508:
1506:Executive Orders
1499:
1492:
1485:
1478:
1471:
1464:
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1443:
1436:
1429:
1422:
1415:
1406:
1397:
1390:
1363:
1356:
1349:
1340:
1316:
1308:. Archived from
1301:
1296:. Archived from
1289:
1268:
1267:
1265:Official website
1242:
1241:. July 27, 2011.
1228:
1205:
1204:
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1201:
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859:
844:
829:
710:(FINRA) and the
580:financial crisis
515:
514:
513:
511:Daniel M. Covitz
487:
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337:February 3, 2022
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82:Washington, D.C.
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2375:
2370:Watergate Seven
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2311:
2304:
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2223:
2216:
2209:
2202:
2195:
2190:Clean Water Act
2188:
2181:
2174:
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2158:
2151:
2143:
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2129:
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2115:
2108:
2101:
2094:
2087:
2080:
2073:
2066:
2057:
2050:
2041:
2034:
2027:
2018:
2011:
2004:
1997:
1988:
1981:
1974:
1967:
1958:
1951:
1944:
1937:
1930:
1923:
1916:
1909:
1902:Economic policy
1896:
1887:
1880:
1873:
1866:
1859:
1852:
1845:Cannabis policy
1843:
1836:
1829:
1822:
1815:
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1706:
1700:Domestic policy
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1683:Operation CHAOS
1681:
1672:
1665:
1658:
1651:
1644:
1637:
1630:
1623:
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1607:
1602:Tar Baby option
1600:
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1586:Cold War period
1584:
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1511:
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1495:
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1420:Silent majority
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1304:
1292:
1280:
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1227:. June 3, 2011.
1217:
1214:
1212:Further reading
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847:
830:
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812:
777:
737:Lehman Brothers
729:
700:
655:
653:Coverage Limits
650:
594:
567:
541:
536:
509:
508:
507:
481:
480:
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469:
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288:
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265:investment firm
207:
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176:
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152:
149:
139:
126:
116:Michael L. Post
113:
107:General Counsel
97:
46:
17:
12:
11:
5:
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2071:
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2048:
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2016:
2009:
1995:
1994:
1993:
1986:
1979:
1965:
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1963:
1956:
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1935:
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1620:
1619:
1605:
1598:
1597:
1596:
1593:Linkage policy
1582:
1581:
1580:
1577:Vietnamization
1573:
1564:
1557:
1543:
1540:Nixon Doctrine
1536:
1528:
1526:
1524:Foreign policy
1520:
1519:
1517:
1516:
1509:
1502:
1501:
1500:
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1290:
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1269:
1258:
1257:External links
1255:
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1059:
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1016:
991:
982:
959:
950:
929:
922:15 U.S.C.
909:
898:"SIPC Mission"
889:
880:
845:
814:
813:
811:
808:
807:
806:
800:
795:
790:
784:
776:
773:
745:Allen Stanford
741:Bernard Madoff
728:
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323:Claudia Slacik
317:
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249:broker-dealers
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136:Vice President
134:
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123:Vice President
121:
118:
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105:
102:
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100:Josephine Wang
98:
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80:, Suite 1000,
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2150:
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2147:
2145:
2142:Environmental
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2118:
2114:
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2100:
2097:
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2021:
2017:
2014:
2010:
2007:
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2002:
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1991:
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1691:
1687:
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1680:
1675:
1671:
1668:
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1661:
1657:
1654:
1653:SALT I Treaty
1650:
1647:
1643:
1640:
1636:
1635:
1633:
1629:
1626:
1622:
1617:
1613:
1612:
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1534:
1530:
1529:
1527:
1525:
1521:
1514:
1510:
1507:
1503:
1498:
1497:controversies
1494:
1491:
1490:Supreme Court
1487:
1486:
1484:
1480:
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1473:
1470:
1466:
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1449:
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1382:
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1376:
1371:
1364:
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1350:
1345:
1344:
1341:
1335:
1331:
1330:
1325:
1315:
1311:
1307:
1303:
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1287:
1283:
1279:
1276:
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1272:
1270:
1266:
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1260:
1256:
1252:
1249:
1247:
1244:
1240:
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1234:
1230:
1226:
1225:
1220:
1216:
1215:
1211:
1195:
1189:
1186:
1179:
1176:
1165:on 2011-03-01
1164:
1160:
1154:
1151:
1140:
1136:
1130:
1127:
1124:
1118:
1115:
1112:
1106:
1103:
1092:on 2011-02-20
1091:
1087:
1081:
1078:
1072:
1069:
1063:
1060:
1054:
1051:
1039:
1033:
1030:
1026:
1020:
1017:
1006:on 2011-02-20
1005:
1001:
995:
992:
986:
983:
978:
974:
970:
963:
960:
954:
951:
939:
933:
930:
927:
923:
918:
916:
914:
910:
899:
893:
890:
884:
881:
873:September 13,
868:
864:
858:
856:
854:
852:
850:
846:
842:
838:
834:
828:
826:
824:
822:
820:
816:
809:
804:
801:
799:
796:
794:
791:
788:
785:
782:
779:
778:
774:
772:
770:
764:
762:
756:
754:
750:
746:
742:
738:
734:
726:
724:
721:
715:
713:
709:
705:
697:
695:
692:
685:
682:
679:
676:
673:
670:
668:Joint account
667:
664:
663:
662:
658:
652:
647:
645:
643:
639:
635:
631:
627:
623:
619:
615:
611:
607:
602:
599:
598:broker-dealer
591:
588:
583:
581:
575:
570:
564:
561:
556:
554:
553:Richard Nixon
550:
549:Edmund Muskie
546:
538:
533:
526:
523:
520:
517:
512:
506:
503:
502:
498:
495:
492:
489:
484:
478:
475:
474:
468:
463:
460:
457:
452:
451:Alan Patricof
446:
443:
442:
436:
431:
428:
425:
420:
414:
411:
410:
404:
401:July 23, 2007
399:
396:
393:
388:
382:
379:
378:
372:
369:April 6, 2022
367:
364:
361:
356:
350:
347:
346:
340:
335:
332:
329:
324:
318:
315:
314:
311:Term expires
310:
307:
304:
301:
298:
295:
294:
291:
286:Board members
285:
283:
280:
277:
270:
268:
266:
262:
258:
254:
250:
246:
242:
238:
234:
228:
202:
198:
189:
186:
182:
178:
169:
165:
158:
155:$ 335,525,137
154:
145:
141:
137:
132:
128:
124:
119:
115:
112:
108:
103:
99:
96:
92:
87:
83:
79:
75:
71:
67:
63:
59:
56:
52:
48:
45:
40:
36:
32:
28:
23:
2456:
2447:
2399:
2377:Enemies List
2042:
1831:War on drugs
1327:
1313:
1310:the original
1298:the original
1286:the original
1236:
1222:
1198:. Retrieved
1188:
1178:
1167:. Retrieved
1163:the original
1153:
1142:. Retrieved
1138:
1129:
1117:
1105:
1094:. Retrieved
1090:the original
1080:
1071:
1062:
1053:
1042:. Retrieved
1032:
1019:
1008:. Retrieved
1004:the original
994:
985:
979:(3): 717–38.
976:
972:
962:
953:
942:. Retrieved
932:
926:§ 78ccc
901:. Retrieved
892:
883:
871:. Retrieved
866:
863:"Leadership"
836:
765:
757:
753:ponzi scheme
733:Bear Stearns
730:
719:
716:
701:
693:
689:
659:
656:
603:
595:
585:
577:
572:
568:
558:
542:
483:W. Moses Kim
433:May 18, 2022
289:
281:
278:
274:
263:of a failed
200:
196:
194:
166:$ 67,218,040
138:- Operations
73:Headquarters
54:Legal status
34:Abbreviation
2426:Resignation
1946:Nixon shock
1547:Vietnam War
1476:Wilson desk
1372:(1969–1974)
1322:‹ The
1183:Supplement)
747:'s and the
362:California
348:Vice chair
261:liquidation
78:K Street NW
2475:Categories
1388:Transition
1200:2013-10-12
1169:2011-03-12
1144:2021-07-30
1096:2011-03-12
1044:2013-12-12
1025:Dodd-Frank
1010:2011-03-12
944:2013-12-22
903:2018-12-15
810:References
761:net equity
308:Confirmed
237:non-profit
235:mandated,
172:Employees
49:52-0910763
44:Tax ID no.
2317:Watergate
841:Guidestar
680:Roth IRAs
634:royalties
622:commodity
592:Functions
539:Enactment
504:Director
476:Director
458:New York
444:Director
426:Illinois
412:Director
394:Virginia
380:Director
330:New York
296:Position
233:federally
160:Expenses
125:- Finance
111:Secretary
91:President
58:501(c)(6)
2326:Timeline
1759:Title IX
1379:Timeline
1324:template
867:SIPC.org
775:See also
755:frauds.
714:(CFTC).
648:Coverage
148:Revenue
1632:Détente
1326:below (
1224:Reuters
783:(FINRA)
743:'s and
534:History
231:) is a
184:Website
65:Purpose
2433:Pardon
2404:(1974)
2144:policy
1282:"SIPC"
1277:(NIAP)
977:XXXVII
924:
789:(MSRB)
720:belong
638:leases
610:stocks
316:Chair
305:Group
302:State
174:(2017)
162:(2017)
150:(2017)
109:&
93:&
1139:FINRA
614:bonds
606:notes
299:Name
76:1667
875:2024
735:and
677:IRAs
616:and
201:SIPC
195:The
37:SIPC
2356:CRP
835:".
751:'s
636:or
624:or
95:CEO
2477::
1235:.
1221:.
1137:.
975:.
971:.
912:^
865:.
848:^
839:.
818:^
644:.
612:,
608:,
527:—
524:—
518:—
499:—
496:—
490:—
267:.
179:39
1571:"
1567:"
1405:"
1401:"
1362:e
1355:t
1348:v
1203:.
1172:.
1147:.
1099:.
1047:.
1013:.
947:.
906:.
877:.
831:"
227:/
224:k
221:ɪ
218:p
215:ɪ
212:s
209:ˈ
206:/
199:(
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
