United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2001-05-25 monographic deposited born digital 95 p. GA 1.13:GAO-01-653 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-01-653 P0b002ee18038b88c f:d01653 DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-01-653 machine generated eng fdlp REPORT GAOREPORTS-GAO-01-653 GAO-01-653 Bankruptcy Brokerage industry Disclosure law Fraud Information disclosure Securities regulation Other Written Product A01051 The Securities Investor Protection Act of 1970 created the Securities Investor Protection Corporation (SIPC) to help protect customers against losses from the failure of a securities firm. However, the large number of claims denied in several recent SIPC liquidation proceedings has raised concerns that some SIPC policies and practices may unduly limit the actual protection afforded customers. This report discusses (1) the basis for SIPC policies involving unauthorized trading and the extent that these policies are disclosed to investors; (2) the basis for SIPC policies involving the affiliates of SIPC member firms and the extent that these policies are disclosed to investors; (3) SEC oversight of SIPC; and (4) the disclosure rules for SIPC, the Federal Deposit Insurance Corporation, and state insurance guarantee associations, as well as the related implications for consumers as the financial services industry consolidates. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-01-653/html/GAOREPORTS-GAO-01-653.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-01-653/pdf/GAOREPORTS-GAO-01-653.pdf GAO-01-653 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-01-653 Other Written Product GAO-01-653; Securities Investor Protection: Steps Needed to Better Disclose SIPC Policies to Investors; Bankruptcy Brokerage industry Disclosure law Fraud Information disclosure Securities regulation