H.R.6531 Update -
As you know, Congressman Scott Garrett recently introduced the H.R.6531 bill, also known as the “Equitable Treatment of Investors Act”. This bill would amend SIPA to determine a customer’s net equity based on the customers last statement, will prohit certain recoveries (clawback) and change how trustees are appointed. While it will take work on all our parts to promote support of this bill and to get it thru the legislative process in 2011, we can start now by faxing a ‘Thank You’ Letter to Congressman Garrett’s office. We are urging anyone who may have a few moments over the next couple of days to do so, just a brief letter thanking him, stressing the importance of this legislation, and urging his continued focus and support. Click here for Congressman Garrett’s fax information.