SIPC Supports $235 Million Settlement With Optimal in Madoff Liquidation
To date, the Trustee has collected over
For more information about SIPC liquidation proceedings, see "The Investor's Guide to Brokerage Firm Liquidations" at http://www.sipc.org/pdf/SIPC_brochure_Investors_Guide_To_BD_Liquidations.pdf.
The Securities Investor Protection Corporation is the U.S. investor's first line of defense in the event a brokerage firm fails, owing customer cash and securities that are missing from customer accounts. SIPC either acts as trustee or works with an independent court-appointed trustee in a brokerage insolvency case to recover funds.
The statute that created SIPC provides that customers of a failed brokerage firm receive all non-negotiable securities -- such as stocks or bonds -- that are already registered in their names or in the process of being registered. At the same time, funds from the SIPC reserve are available to satisfy the remaining claims of each customer up to a maximum of
INVESTOR CONTACTS: All investor inquires related to the BLMIS liquidation should be directed to http://www.madofftrustee.com. All investor inquiries of SIPC should be directed to email@example.com or (202) 371-8300.
SOURCE Securities Investor Protection Corporation,
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