Kotlikoff: Investors at Risk of Wipeout, SIPC a Fraud
Economist Laurence Kotlikoff says all Americans should close their brokerage accounts immediately because of what he calls a massive insurance scam by the SIPC.
SEC Adopts Stricter BD Custody Rules
The new rules for BDs will provide “important additional safeguards” for investors, according to SEC Chief Mary Jo White.
Lehman Agreement Paves Way for 100% Return of Customer Property: SIPC
SIPC announced that about $38 billion in claims relating to the Lehman Brothers liquidation proceeding will be resolved and the way paved for a 100% return of customer property under an agreement reached Friday.
Nearly $2.5 Billion Mailed to Madoff Victims
Nearly $2.5 billion in checks were mailed Wednesday to victims in the liquidation of Bernard L. Madoff Investment Securities, according to the Securities Investor Protection Corp.
New Hire Roundup: Putnam Adds Three; Wagner Retires From BlackRock, Joins Board
This week in new hires, David Scheetz, Edward Deeds and James Axford joined Putnam Investments; and Susan Wagner retired as vice chairwoman of BlackRock and was named to its board.
Allen Stanford and Jon Corzine: The 2012 IA 25 Extended Profile
Allen Stanford and Jon Corzine: two names that have come to occupy the same sullied space as Bernie Madoff.
SIPC Fights SEC’s Stanford Suit
One day after Allen Stanford was convicted on March 6 of operating a $7 billion Ponzi scheme, the CEO of the Securities Investor Protection Corp. (SIPC) told lawmakers that SIPC is not responsible for reimbursing Stanford investors for their losses.
New Hire Roundup: Bowen Is Acting Chair at SIPC; Pologe Goes to Genworth
This week in new hires, Genworth welcomed David Pologe and David Ford joined Securities America.
Independent BDs Back SIPC Over Stanford Suit
Fallout from the Allen Stanford case is still growing. In the latest clash over whether shareholders should be protected from losses á la Bernard Madoff, the National Association of Independent Broker-Dealers has sent a letter to the SEC, that says the SIPC should not have to cover those losses.
Stanford Fraud Trial Bigger ‘Black Eye’ for SEC, FINRA Than Madoff
The Allen Stanford trial began on Monday for his alleged $7 billion Ponzi scheme that involved supposedly ‘safe’ certificates of deposit.