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Securities Investor Protection Act
The Securities Investor Protection Act of 1970, Public Law No. 91-598, 84 Stat. 1636 (Dec. 30, 1970), codified at through , established the Securities Investor Protection Corporation (SIPC). Most brokers and dealers registered under the Securities Exchange Act of 1934 are required to be members of the SIPC. The SIPC maintains a fund that is intended to protect investors against the misappropriation of their funds and of most types of securities in the event of the failure of their broker. External links Securities Investor Protection Act of 1970 as amended in the |
Securities Investor Protection Corporation
The Securities Investor Protection Corporation (SIPC ) is a federally mandated, non-profit, member-funded, United States corporation created under the Securities Investor Protection Act (SIPA) of 1970 that mandates membership of most US-registered broker-dealers. Although created by federal legislation and overseen by the Securities and Exchange Commission, the SIPC is neither a government agency nor a regulator of broker-dealers. The purpose of the SIPC is to expedite the recovery and return of missing customer cash and assets during the liquidation of a failed investment firm. History Enactment In response to the near collapse of the financial markets in 1970, Congress chose to enact legislation that could prevent an escalation of brokerage firm insolvencies and help stabilize the financial markets. In December 1970, Senator Edmund Muskie pushed forward a bill to create a Federal Broker Dealer Insurance Corporation. A compromise with the House resulted in the SIPA, which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities Exchange Act Of 1934
The Securities Exchange Act of 1934 (also called the Exchange Act, '34 Act, or 1934 Act) (, codified at et seq.) is a law governing the secondary trading of securities (stocks, bonds, and debentures) in the United States of America. A landmark of wide-ranging legislation, the Act of '34 and related statutes form the basis of regulation of the financial markets and their participants in the United States. The 1934 Act also established the Securities and Exchange Commission (SEC), the agency primarily responsible for enforcement of United States federal securities law. Companies raise billions of dollars by issuing securities in what is known as the primary market. Contrasted with the Securities Act of 1933, which regulates these original issues, the Securities Exchange Act of 1934 regulates the secondary trading of those securities between persons often unrelated to the issuer, frequently through brokers or dealers. Trillions of dollars are made and lost each year through t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Government Publishing Office
The United States Government Publishing Office (USGPO or GPO; formerly the United States Government Printing Office) is an agency of the legislative branch of the United States Federal government. The office produces and distributes information products and services for all three branches of the Federal Government, including U.S. passports for the Department of State as well as the official publications of the Supreme Court, the Congress, the Executive Office of the President, executive departments, and independent agencies. An act of Congress changed the office's name to its current form in 2014. History The Government Printing Office was created by congressional joint resolution () on June 23, 1860. It began operations March 4, 1861, with 350 employees and reached a peak employment of 8,500 in 1972. The agency began transformation to computer technology in the 1980s; along with the gradual replacement of paper with electronic document distribution, this has led to a stea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1970 In Law
Year 197 ( CXCVII) was a common year starting on Saturday (link will display the full calendar) of the Julian calendar. At the time, it was known as the Year of the Consulship of Magius and Rufinus (or, less frequently, year 950 ''Ab urbe condita''). The denomination 197 for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years. Events By place Roman Empire * February 19 – Battle of Lugdunum: Emperor Septimius Severus defeats the self-proclaimed emperor Clodius Albinus at Lugdunum (modern Lyon). Albinus commits suicide; legionaries sack the town. * Septimius Severus returns to Rome and has about 30 of Albinus's supporters in the Senate executed. After his victory he declares himself the adopted son of the late Marcus Aurelius. * Septimius Severus forms new naval units, manning all the triremes in Italy with heavily armed troops for war in the East. His soldiers embark on an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
