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SIPC then came in to liquidate the clearing firm. WSC's fatal problem was 900,000 shares of illegally margined Data Race stock held by the introducing firm, Cygnet Securities of Waldwick, N.J. The stake amounted to 18 percent of outstanding shares ...
Wealth Management · 5/1/2000
Who gets compensation — and SIPC’s help with a firm’s liquidation — is determined by the facts of each case. Under the 1970 Securities Investor Protection Act, if a broker absconds with, for example, 100 shares of stock, the SIPC will replace it.
Dallas News · 7/26/2011
member FINRA and SIPC). Loading... Loading... Jeff DeAngelis, CFA,Northwestern Mutual Jeff DeAngelis is the chief investment officer of Northwestern Mutual Wealth Management Company. Watching the stock market take a tumble can be rough on the …
Forbes · 7/2/2015
SIPC helps investors recover money, stocks, or other securities that are lost or stolen by a broker if the broker fails or otherwise goes out of business. SIPC's website says, "In a liquidation under the Securities Investor Protection Act, SIPC and a court ...
The Brazil Times · 6/11/2015
Android: Most brokerages charge you every time you buy or sell a stock or ETF. Robinhood ... All the data is encrypted and your securities are protected by the SIPC, which covers up to $US500,000. Currently you have to be a US citizen to use the app ...
Life Hacker · 8/15/2015
"When the liquidation of a brokerage firm is handled by SIPC, investors with missing stocks or cash do not pay a fee for recovery of those assets,'' SIPC President Stephen Harbeck said. "Any individuals contacted by supposed representatives of SIPC who ...
Financial Advisor Magazine · ByJim Mcconville · 6/17/2011
A: When most people buy a stock, they contact their broker and that's it ... you're protected up to $500,000 by the Securities Investor Protection Corp. (SIPC). If your shares were stolen, even if in street name, SIPC would replace the securities.
ABC News · 2/18/2009
He was barred from securities dealings for one year in 1972 by the Securities and Exchange Commission because of participation in a reported stock fraud at Executive Securities, according to the SIPC. Seymour Vigman, also named in the SIPC suit ...
New York Times · ByKirk Johnson · 7/26/1983
allows investors to trade “motifs” -- intelligently weighted basket of stocks built around themes, investing styles or multi-asset models -- for low fees. Motif Investing is a registered broker dealer and a member of SIPC. Motif was recently ranked ...
marketwired.com · 8/5/2015
The SEC, the Securities Investor Protection Corp., two SIPC lawyers and two of Goble's erstwhile colleagues — former North American Clearing executives Timothy Ward and Bruce Blatman — all conspired to accuse Goble of illegally liquidating customer ...
Law 360 · ByPete Brush · 5/19/2011