Securities

Recent Posts

SEC Efforts to Compel SIPC Coverage For Stanford Victims Rejected
Posted on 22 Jul 2014 by Thomas O. Gorman

The D.C. Circuit rejected efforts by the SEC to compel the Securities Investor Protection Corporation to liquidate a broker-dealer that was part of the Stanford Ponzi scheme empire. The investors had purchased CDs from an off-shore Stanford entity. The... Read More

A Split Decision for the SEC on Its SIPC Application
Posted on 16 Feb 2012 by Thomas O. Gorman

The SEC partially prevailed in a proceeding brought against the Securities Investor Protection Corporation or SIPC. The Court agreed with the Commission that the appropriate manner in which to seek an order compelling SIPC to file an application for... Read More

Fraud Professionals are the Real Winners in Madoff Case
Posted on 4 Apr 2011 by Mark Zimbelman

The fees paid to fraud professionals such as attorneys, consultants and accountants to clean up the mess that Bernie Madoff's famous Ponzi scheme left is projected to reach over $1 billion! According to the Washington Post the fees paid to such... Read More

Winners and Losers in the Madoff Case
Posted on 8 Mar 2011 by Mark Zimbelman

Irving Picard, the trustee in the Madoff case, was in court last week as a panel of three judges heard arguments on whether net winners in the Madoff case ought to be able to collect money from the government. Net winners are those who took more cash... Read More

SEC Files Lawsuit Against SIPC in Dispute Over Coverage of Stanford Ponzi Scheme
Posted on 13 Dec 2011 by Jordan D. Maglich

In a likely unprecedented move, the Securities and Exchange Commission ("SEC") filed a lawsuit against the Securities Investor Protection Corporation ("SIPC") as the culmination of a six-month effort to force SIPC to compensate... Read More