Provisions Of The Bankruptcy Code And SIPA

Law360, New York (September 18, 2008, 12:00 AM EDT) -- Recent turmoil in the financial markets has focused attention on the potential insolvencies of broker-dealers and other financial market participants, whose businesses are intertwined with myriad investors and counterparties through investment accounts, securities and commodities contracts, repurchase agreements, swaps and master netting agreements.

Indeed, because of the effects such insolvencies might have on these investors and counterparties, and on the financial markets themselves, there are special provisions of the United States Bankruptcy Code (the Bankruptcy Code) and the Securities Investor Protection Act of 1970 (SIPA) that...
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