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Securities Investor Protection Act of 1970 |
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Securities Investor Protection Act of 1970 Legislation in the United States that established the Securities Investor Protection Corporation (SIPC). The SIPC insures investors in case their broker-dealer firms fail. In the event of failure of a broker-dealer firm, its clients are protected up to $500,000 of their total equity investments and up to $100,000 in cash. It also protects investors from fraud or misappropriation on the part of their broker-dealers. It is important to note that the SIPC does not protect against bad investments, nor does it cover any futures or commodity contracts. It is not a government entity; it is a non-profit organization to which most brokers and dealers registered with the SEC are required to belong. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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