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You Wanna SIPA?...Securities Investor Protection Act of 1970

Dashboard > Better Know a Federal Act! > You Wanna SIPA?...Securities Investor Protection Act of 1970

You Wanna SIPA?...Securities Investor Protection Act of 1970

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    Quizlet

    SIPA is where failing brokerages go to die. Most likely, a failing brokerage will go through a proceeding under the Securities Investor Protection Act of 1970 rather than a Bankruptcy Code liquidation case.

    Under SIPA, the Securities Investor Protection Corporation will try to arrange the transfer of the failed brokerage’s accounts to a living breathing securities firm. But if they can’t find a taker, SIPC liquidates the brokerage completely (in a huge melting pot). If that happens, SIPC will ...

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