Replies to post #110556 on The Golden Lounge

[XV19]

that just seems to be the case in most of these SEC 'wristslaps'. Yes..occasionaly someone does jail time (ECNC, for example). But there never does seem to be and SEC Resolution TO COMPENSATE THOSE WHO LOST THEIR MONEY.

I don't know what the fix could be. Maybe, for example..when the SEC DOES find someone guilty (as in the case of GVRP/MAMG), they should force the Brokers to close out any positions held in the offending company and AT LEAST refund the original purchase price. Seems like a very 'pollyanna' type of idea, but it's something.

[Jim Bishop]

Worth a shot:

http://www.sec.gov/divisions/enforce/claims.htm

Investors Claims Funds
This page lists the SEC enforcement cases in which a Receiver, Disbursement Agent, or Claims Administrator has been appointed. Funds that are recovered and available for investors will be distributed according to an approved plan.

In addition to seeing whether a claims fund has been established, you may want to find out whether a private class action has been filed against the company you invested in. If you're aware of violations of the securities laws, please tell us by using our online complaint form.

If your broker-dealer has gone out of business, you can visit the website of the Securities Investor Protection Corporation to find out whether your firm is the subject of a liquidation proceeding and how you can obtain a claim form.