Securities Investor Protection Corporation information
American financial non-profit
Securities Investor Protection Corporation
Abbreviation
SIPC
Tax ID no.
52-0910763[1]
Legal status
501(c)(6) membership corporation[1]
Purpose
To work to return customers' cash, stock, other securities, and other property when a brokerage firm is closed due to bankruptcy or other financial difficulties and customer assets are missing.
Headquarters
1667 K Street NW, Suite 1000, Washington, D.C. 20006, United States
President
William S. Jasien[2]
General Counsel, Secretary
Josephine Wang[2]
Vice President - Finance
Charles E. Glover[2]
Vice President - Operations
Karen L. Saperstein[2]
Revenue (2017)
$335,525,137[1]
Expenses (2017)
$67,218,040[1]
Employees (2017)
39[1]
Website
http://www.sipc.org/
The Securities Investor Protection Corporation (SIPC/ˈsɪpɪk/) is a federally mandated, non-profit, member-funded, United States government corporation created under the Securities Investor Protection Act (SIPA) of 1970[3] 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.[4]
^ abcde"Form 990: Return of Organization Exempt from Income Tax". Securities Investor Protection Corporation. Guidestar. December 31, 2017.
^ abcd"Leadership". Securities Investor Protection Corporation. Retrieved December 18, 2018.
^Title 15 U.S.C. §78aaa et seq., as amended
^"SIPC Mission". Retrieved 2018-12-15.
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