Securities Investor Protection: Steps Needed to Better Disclose SIPC Policies to Investors

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A chapter report issued by the General Accounting Office with an abstract that begins "The Securities Investor Protection Act of 1970 created the Securities Investor Protection Corporation (SIPC) to help protect customers against losses from the failure of a securities firm. However, the large number of claims denied in several recent SIPC liquidation proceedings has raised concerns that some SIPC policies and practices may unduly limit the actual protection afforded customers. This report discusses (1) the basis for SIPC policies involving unauthorized trading and the extent that these policies are disclosed to investors; (2) the basis for SIPC policies involving ... continued below

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United States. General Accounting Office. May 25, 2001.

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Description

A chapter report issued by the General Accounting Office with an abstract that begins "The Securities Investor Protection Act of 1970 created the Securities Investor Protection Corporation (SIPC) to help protect customers against losses from the failure of a securities firm. However, the large number of claims denied in several recent SIPC liquidation proceedings has raised concerns that some SIPC policies and practices may unduly limit the actual protection afforded customers. This report discusses (1) the basis for SIPC policies involving unauthorized trading and the extent that these policies are disclosed to investors; (2) the basis for SIPC policies involving the affiliates of SIPC member firms and the extent that these policies are disclosed to investors; (3) SEC oversight of SIPC; and (4) the disclosure rules for SIPC, the Federal Deposit Insurance Corporation, and state insurance guarantee associations, as well as the related implications for consumers as the financial services industry consolidates."

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Government Accountability Office Reports

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the U.S. Congress investigating how the federal government spends taxpayers' money. Its goal is to increase accountability and improve the performance of the federal government. The Government Accountability Office Reports Collection consists of over 13,000 documents on a variety of topics ranging from fiscal issues to international affairs.

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  • May 25, 2001

Added to The UNT Digital Library

  • June 11, 2014, 5:03 a.m.

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United States. General Accounting Office. Securities Investor Protection: Steps Needed to Better Disclose SIPC Policies to Investors, report, May 25, 2001; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc292760/: accessed December 18, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.