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Investors
SIPC steps in when a brokerage firm fails financially, and assets are missing from customer accounts.
SIPC protects customer assets when a SIPC-member brokerage firm fails financially.
Understand how SIPC protection works if you have multiple accounts.SIPC has recovered billions of dollars for investors. Our job is to recover missing cash or securities if your brokerage firm has gone out of business. SIPC does not protect digital asset securities that are investment contracts that are not registered with the U.S. Securities and Exchange Commission, even if held by a SIPC member brokerage firm.
SIPC has issued Investor Bulletins explaining SIPC’s protection and claims process. Click here for Part I ("SIPC Basics"). Click here for Part II ("Filing a SIPC Claim").
Sharon Bowen Will Succeed Outgoing Orlan Johnson as Acting Leader of SIPC Board WASHINGTON, D.C. - February 27, 2012 - The Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund mandated by Congress to protect the customers of insolvent brokerage firms, today announced the withdrawal of Chairman Orlan Johnson from its Board of Directors. He will be succeeded by Sharon Bowen, who previously served as vice chair of the SIPC board, who will serve as acting chair.
- The Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund mandated by Congress to protect the customers of insolvent brokerage firms, today announced the withdrawal of Chairman Orlan Johnson from its Board of Directors. He will be succeeded by Sharon Bowen, who previously served as vice chair of the SIPC board, who will serve as acting chair.
Chairman Johnson stated: "My term as chairman expired in December 2011. Given my other responsibilities, I believe it is time for me to step aside. Vice Chair Sharon Bowen will provide exceptional leadership for the Board. I have worked closely with Sharon on both the Board and the SIPC Modernization Task Force. She has a complete command of the issues facing SIPC. With the completion of the Task Force's work and recent delivery of the Task Force's Report, which I promised upon my confirmation, I will leave SIPC in good hands."
SIPC President Stephen Harbeck said: "Chairman Johnson took office at a critical time for SIPC and the entire financial sector. He has been an outstanding chairman of this corporation during the financial crisis. Everyone connected with SIPC appreciates the leadership, guidance, and support the chairman gave to the organization during his term. The direction provided by the chairman involved complex and difficult decisions. Through it all, Orlan Johnson made the decisions that were consistent with the Securities Investor Protection Act, with both grace and conviction."