SEC Sues SIPC to Recover Funds in Stanford Scheme
The SEC on Monday asked a federal court to order the SIPC to initiate a liquidation proceeding for investors who were victims of the Ponzi scheme carried out by Allen Stanford.
Rep. Garrett to SEC: Wait on 'Net Equity' in Madoff Liquidation
Rep. Scott Garrett, R-N.J., told SEC Chairman Mary Schapiro in a letter on Monday to wait on final action in reconsidering the SEC’s position on 'net equity' in the Bernie Madoff case until after the GAO publishes its report evaluating the actions of the SIPC and its trustee.
Madoff 'Feeder Fund' Settlement Reached
Irving Picard, trustee for the SIPA liquidation of Bernie Madoff's firm, announced Thursday that he had reached a $1 billion settlement with Madoff 'feeder funds.'
SIPC Says It Need Not Reimburse Stanford Victims; SEC Disagrees
Dispute centers on meaning of 'theft' versus 'fraud.' SIPC to decide on next move by mid-September.