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Category Archives: SIPC

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Stanford Investors May Have a Second Life

Posted in Ponzi Schemes, SIPC

The SEC has decided to appeal a district court decision denying the SEC’s application to force SIPC to pay Staford investors.  See SEC v. SIPC, D.D.C., No. 1:11-mc-00678-RLW, 8/31/12, and http://www.scribd.com/doc/81297680/Judge-Wilkins-Opinion-re-SEC-SIPC-Case. The SEC believes that these investors should be protected by SIPC insurance.  However, the court’s decision held that the investors did not invest through… Continue Reading

SEC Grants Capital Relief to Owners

Posted in Broker-Dealer Regulation, FINRA Compliance, No-Action Relief, SEC Compliance, SIPC

In an interesting no-action letter presented by FINRA, the SEC staff granted relief in that where FINRA saw multiple class ownerships where some of these classes indicate almost a relationship between a broker dealer and a customer, the staff would permit such ownership classes without it affecting SEC Exchange Act Rule 15c3-3. The SEC would… Continue Reading