Securities Investor Protection Act

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The Securities Investor Protection Act of 1970 codified at 15 U.S.C. § 78aaa through 15 U.S.C. § 78lll, established the Securities Investor Protection Corporation (SIPC). Most brokers and dealers registered under the Securities and Exchange Act of 1934 are required to be members of the SIPC.

The SIPC maintains a fund that is intended to protect investors against the misappropriation of their funds and of most types of securities in the event of the failure of their broker.

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