Currently, SIPC members are assessed a flat
SIPC President and CEO
In a letter sent today to CEOs at member firms, SIPC Chairman
Under SIPC rules, any assessment change is to begin on the first day of the month following the date of SIPC's published determination.
SIPC member firms seeking more information should go to http://www.sipc.org/members/members.cfm.
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
For more information about SIPC, see "The Investor's Guide to Brokerage Firm Liquidations" at http://www.sipc.org/pdf/SIPC_brochure_Investors_Guide_To_BD_Liquidations.pdf.
All investor inquiries of SIPC should be directed to firstname.lastname@example.org or (202) 371-8300
SOURCE Securities Investor Protection Corporation,