A group of plaintiffs’ attorneys, the Public Investors Arbitration Bar Association, is calling for an investigation of the use of a fund created to reimburse investors if their brokerage firms go bankrupt.
The lawyers claim that the fund’s managing group, the Securities Investor Protection Corp. (SIPC), and its trustees arbitrarily prevent customers of insolvent brokerage firms from recouping their losses. The lawyers’ also charge that the decisions of SIPC trustees are driven by their own financial interests, not those of investors.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Not a Bloomberg Law Subscriber?
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]