Advertisement
YOU ARE HERE: LAT HomeCollectionsSecurities Investor Protection Corp
IN THE NEWS

Securities Investor Protection Corp

FEATURED ARTICLES
ARTICLES BY DATE
BUSINESS
September 12, 2010 | Kathy M. Kristof, Personal Finance
If you own U.S. stocks, you should know that the Securities Investor Protection Corp. is considering revamping its rules in the wake of the two biggest quakes ever to hit the brokerage industry — the massive Lehman Bros. collapse and Bernard L. Madoff's record-setting Ponzi scheme. SIPC is the brokerage-industry equivalent of the Federal Deposit Insurance Corp., with some major differences. SIPC will cover a stock investor for up to $500,000 in securities and cash (there's a $100,000 cap on the cash part)
Advertisement
BUSINESS
March 25, 1992 | From Times Staff and Wire Reports
Brokerage Regulator's Power Limited: The Supreme Court limited the power of the Securities Investor Protection Corp., a securities regulatory agency, to protect brokerage customers. The court said SIPC wrongly invoked an anti-racketeering law in its 1983 efforts to recover money paid to customers of two brokerages gone bust.
BUSINESS
July 4, 2009 | Anthony M. DeStefano, DeStefano writes for Newsday.
A last-minute rush by investors, including one who drove from Mexico to Dallas to beat the July 2 deadline, pushed the final number of claims in the Bernard L. Madoff fraud to more than 15,000, officials said Friday. They e-mailed, mailed and walked their claims to a central processing office in Dallas and the New York office of Irving Picard, the trustee appointed by the federal Bankruptcy Court to recover assets for distribution to defrauded investors.
BUSINESS
April 17, 1990 | STEFAN FATSIS, ASSOCIATED PRESS
Marilyn Helding, 65, the widow of a Wisconsin vegetable farmer, was afraid the money from her husband's estate vanished like crops in the Dust Bowl when Windsor Capital Corp. went out of business. "I nearly went crazy when they went under," Helding said from her home in Franksville, Wis. "I didn't know what to do." But a few months after the small Milwaukee brokerage collapsed in March, 1988, Helding regained her entire stock portfolio and $45,000 in cash owed her by the firm.
BUSINESS
January 7, 2009 | BLOOMBERG NEWS
Investors who lost money in Bernard Madoff's alleged $50-billion fraud might begin recovering some funds as soon as next month, said Stephen Harbeck, head of Securities Investor Protection Corp. "You're talking about unscrambling an egg," he said Tuesday. First payouts from the investor protection fund could occur in "a month or two" if the cash isn't difficult to trace, Harbeck said. Other customers will have to wait for months, he said.
BUSINESS
May 4, 1985 | NANCY RIVERA, Times Staff Writer
A federal judge Friday issued a preliminary order shutting down Coastal Securities Corp., a small municipal bond broker-dealer in Century City, and installed a trustee to liquidate the firm. In response to a suit filed by the Securities and Exchange Commission, U.S. District Judge Robert M. Takasugi in Los Angeles issued a preliminary injunction that, among other things, blocks Coastal Securities, its president, Mark D. Seigel, and its executive vice president, John J.
BUSINESS
September 12, 2010 | Kathy M. Kristof, Personal Finance
If you own U.S. stocks, you should know that the Securities Investor Protection Corp. is considering revamping its rules in the wake of the two biggest quakes ever to hit the brokerage industry — the massive Lehman Bros. collapse and Bernard L. Madoff's record-setting Ponzi scheme. SIPC is the brokerage-industry equivalent of the Federal Deposit Insurance Corp., with some major differences. SIPC will cover a stock investor for up to $500,000 in securities and cash (there's a $100,000 cap on the cash part)
BUSINESS
July 4, 2009 | Anthony M. DeStefano, DeStefano writes for Newsday.
A last-minute rush by investors, including one who drove from Mexico to Dallas to beat the July 2 deadline, pushed the final number of claims in the Bernard L. Madoff fraud to more than 15,000, officials said Friday. They e-mailed, mailed and walked their claims to a central processing office in Dallas and the New York office of Irving Picard, the trustee appointed by the federal Bankruptcy Court to recover assets for distribution to defrauded investors.
BUSINESS
January 7, 2009 | BLOOMBERG NEWS
Investors who lost money in Bernard Madoff's alleged $50-billion fraud might begin recovering some funds as soon as next month, said Stephen Harbeck, head of Securities Investor Protection Corp. "You're talking about unscrambling an egg," he said Tuesday. First payouts from the investor protection fund could occur in "a month or two" if the cash isn't difficult to trace, Harbeck said. Other customers will have to wait for months, he said.
BUSINESS
March 25, 1992 | From Times Staff and Wire Reports
Brokerage Regulator's Power Limited: The Supreme Court limited the power of the Securities Investor Protection Corp., a securities regulatory agency, to protect brokerage customers. The court said SIPC wrongly invoked an anti-racketeering law in its 1983 efforts to recover money paid to customers of two brokerages gone bust.
BUSINESS
April 17, 1990 | STEFAN FATSIS, ASSOCIATED PRESS
Marilyn Helding, 65, the widow of a Wisconsin vegetable farmer, was afraid the money from her husband's estate vanished like crops in the Dust Bowl when Windsor Capital Corp. went out of business. "I nearly went crazy when they went under," Helding said from her home in Franksville, Wis. "I didn't know what to do." But a few months after the small Milwaukee brokerage collapsed in March, 1988, Helding regained her entire stock portfolio and $45,000 in cash owed her by the firm.
BUSINESS
May 4, 1985 | NANCY RIVERA, Times Staff Writer
A federal judge Friday issued a preliminary order shutting down Coastal Securities Corp., a small municipal bond broker-dealer in Century City, and installed a trustee to liquidate the firm. In response to a suit filed by the Securities and Exchange Commission, U.S. District Judge Robert M. Takasugi in Los Angeles issued a preliminary injunction that, among other things, blocks Coastal Securities, its president, Mark D. Seigel, and its executive vice president, John J.
NEWS
June 18, 1992
Robert William Haack, 75, who led the drive for automation of the New York Stock Exchange. Beginning as a stockbroker in Milwaukee, Haack moved up to president of the National Assn. of Securities in the mid-1960s and became head of the stock exchange in 1967. During the 1970s he helped Congress develop the Securities Investor Protection Corp. to protect investors if a brokerage collapsed. In the wake of bribery scandals involving Lockheed Co.
Los Angeles Times Articles
|