{"id":5446,"date":"2013-05-14T00:00:00","date_gmt":"2013-05-14T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/05\/sec_securities_roundup_excommi"},"modified":"2022-05-04T13:40:44","modified_gmt":"2022-05-04T18:40:44","slug":"sec-securities-roundup-excommi","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-securities-roundup-excommi\/","title":{"rendered":"SEC Roundup: Regulator Addresses CDS Portfolio Margin Program & Ex-Commission Officials Want DC Circuit to Grant SIPC Protection to Stanford Ponzi Scam Victims"},"content":{"rendered":"

Ex-Commission Officials, Others Want DC Circuit to Grant Stanford Ponzi Scam Victims SIPC Protection<\/strong><\/p>\n

Former SEC Officials, law professors, and trade groups are among those pressing the U.S. Court of Appeals for the District of Columbia Circuit to reject the regulator\u2019s bid to compel Securities Investor Protection Corporation coverage for the investors who were bilked in R. Allen Stanford\u2019s $7 billion Ponzi scam. Inclusion under the Securities Investor Protection Act would allow the fraud victims to obtain reimbursement for losses.<\/p>\n

However, SIPC, which is a federally mandated non-profit corporation, doesn\u2019t believe that the Stanford investors, who purchased certificates of deposit from Stanford International Bank Ltd. in Antigua, fall under this protection. Following a failure to act on the SEC\u2019s request to initiate liquidation proceedings for brokerage firm Stanford Group Co., the regulator asked the court for a novel order that would make the organization comply.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Ex-Commission Officials, Others Want DC Circuit to Grant Stanford Ponzi Scam Victims SIPC Protection Former SEC Officials, law professors, and trade groups are among those pressing the U.S. Court of Appeals for the District of Columbia Circuit to reject the regulator\u2019s bid to compel Securities Investor Protection Corporation coverage for the investors who were bilked […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3743,3752,3792,3761,3963],"tags":[],"class_list":["post-5446","post","type-post","status-publish","format-standard","hentry","category-credit-default-swaps","category-financial-firms","category-ponzi-scams","category-securities-and-exchange-commis","category-securities-law-and-regulations"],"yoast_head":"\nSEC Roundup: Regulator Addresses CDS Portfolio Margin Program & Ex-Commission Officials Want DC Circuit to Grant SIPC Protection to Stanford Ponzi Scam Victims — Investor Lawyers Blog — May 14, 2013<\/title>\n<meta name=\"description\" content=\"Ex-Commission Officials, Others Want DC Circuit to Grant Stanford Ponzi Scam Victims SIPC Protection Former SEC Officials, law professors, and trade — May 14, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/sec-securities-roundup-excommi\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Roundup: Regulator Addresses CDS Portfolio Margin Program & Ex-Commission Officials Want DC Circuit to Grant SIPC Protection to Stanford Ponzi Scam Victims — Investor Lawyers Blog — May 14, 2013\" \/>\n<meta name=\"twitter:description\" content=\"Ex-Commission Officials, Others Want DC Circuit to Grant Stanford Ponzi Scam 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