A federal judge said he has the authority to decide whether the U.S. Securities & Exchange Commission can compel a brokerage industry protection fund to let thousands of victims of Allen Stanford’s alleged Ponzi scheme file claims for compensation. The SEC’s effort to force the Securities Investor Protection Corp to initiate a claims procedure for Stanford’s victims is subject to judicial review, Judge Robert Wilkins of federal court in Washington, D.C., ruled on Thursday.
via Judge to have say in SIPC’s role in Stanford claims.–Reuters
