Securities Investor Protection Corporation
The Securities Investor Protection Corporation (SIPC /ˈsɪpɪk/) is a federally mandated, non-profit, member-funded, United States government corporation created under the Securities Investor Protection Act (SIPA) of 1970 that mandates membership of most US-registered broker-dealers. Although created by federal legislation and overseen by the Securities and Exchange Commission, the SIPC is neither a government agency nor a regulator of broker-dealers. The purpose of the SIPC is to expedite the recovery and return of missing customer cash and assets during the liquidation of a failed investment firm.
| Abbreviation | SIPC |
|---|---|
| 52-0910763 | |
| Legal status | 501(c)(6) membership corporation |
| Purpose | To work to return customers' cash, stock, other securities, and other property when a brokerage firm is closed due to bankruptcy or other financial difficulties and customer assets are missing. |
| Headquarters | 1667 K Street NW, Suite 1000, Washington, D.C. 20006, United States |
| William S. Jasien | |
| Josephine Wang | |
Vice President - Finance | Charles E. Glover |
Vice President - Operations | Karen L. Saperstein |
Revenue (2017) | $335,525,137 |
| Expenses (2017) | $67,218,040 |
Employees (2017) | 39 |
| Website | http://www.sipc.org/ |
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.