what is sipc?
The Securities Investor Protection Corporation (SIPC /ËsÉªpÉ¨k/) is a federally mandated, non-profit, member-funded, United States corporation created under the Securities Investor Protection Act (SIPA) of 1970 and mandates membership of most US-registered broker-dealers. It is not a Self-regulatory organization (SRO). The SIPC fund, which constitutes an insurance program, is designed to protect the customers of brokers or dealers subject to the SIPA from loss in case of financial failure of the member. The fund is supported by assessments upon its members.