| SIPC
- Securities Investor Protection Corporation |
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A
nonprofit corporation created by an act of Congress to protect clients
of brokerage firms that are forced into bankruptcy. Membership is
composed of all brokers and dealers registered under the Securities
Exchange Act of 1934, all members of securities exchanges and most
NASD members.
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SIPC
is an insurance that provides brokerage customers up to $500,000 coverage
for cash and securities held by the firms (although coverage of cash
is limited to $100,000). |
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Dictionary
