Cassidy Applauds SEC Decision to Appeal SIPC Ruling

BATON ROUGE –Today, Congressman Bill Cassidy, M.D. (R-LA) applauded the decision by the Securities Exchange Commission to appeal the Federal District Court ruling regarding coverage for Stanford investors from the Securities Investor Protection Corporation.

“This decision is vital for Stanford investors who are seeking fair compensation after they were defrauded by Allen Stanford’s company.  The Securities Investor Protection Corporation is designed to compensate those who were mislead into believing the government was ensuring that Brokers were not operating Ponzi schemes.  This is the mission it was given by Congress.  We need to ensure that SIPC fulfills this mission in this case.  Doing so will strengthen its credibility and restore to investors financial security.”