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.

Summary

Official

Ponzi Scheme Investor Protection Act of 2010 - Amends the Securities Investor Protection Act of 1970 with respect to the duties of a trustee appointed for a Securities and Exchange Commission (SEC)-registered broker or dealer undergoing liquidation. Instructs the trustee to take specified actions if the trustee determines that the debtor is a Ponzi scheme. Establishes procedures...

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Bill Progress

Bill has been introduced and assigned a number

Introduced(4/15/10)

Committee

Passed House

Passed Senate

President

Law

Cosponsors (5)

Thompson

House (D) Mississippi

Himes

House (D) Connecticut

Cohen

House (D) Tennessee

Green

House (D) Texas

McGovern

House (D) Massachusetts

Topics

Government Spending & Operations

Business & Finance

Law Enforcement

Latest Action

Referred to the House Committee on Financial Services.

Apr 15, 2010