HR 1987

112th CONGRESS
1st Session

H. R. 1987

To amend the Securities Investor Protection Act of 1970 to provide insurance coverage for certain indirect investors caught in Ponzi schemes, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

May 25, 2011

Mr. ACKERMAN introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To amend the Securities Investor Protection Act of 1970 to provide insurance coverage for certain indirect investors caught in Ponzi schemes, and for other purposes.

SECTION 1. SHORT TITLE.

SEC. 2. ADDITIONAL PROTECTIONS FOR INVESTORS IN PONZI SCHEMES.

`SEC. 8A. SPECIAL PROVISIONS RELATED TO PONZI SCHEMES.

SEC. 3. SIPC FUND ASSESSMENT.

SEC. 4. AUDITS OF CERTAIN TRUSTEES.

SEC. 5. DEFINITIONS.

END