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Simple English definitions for legal terms

SIPA

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A quick definition of SIPA:

Term: SIPA

Definition: SIPA is an abbreviation for Securities Investor Protection Act. This act was created to protect investors if their brokerage firm fails. It provides insurance coverage for up to $500,000 per customer, including up to $250,000 in cash. This means that if your brokerage firm goes bankrupt, you may be able to recover some or all of your investments.

A more thorough explanation:

SIPA

SIPA stands for Securities Investor Protection Act. It is a law that was passed in 1970 to protect investors in case their brokerage firm fails.

For example, if you have money invested in a brokerage firm and that firm goes bankrupt, you may lose your money. However, if the firm is a member of the Securities Investor Protection Corporation (SIPC), which was created by the SIPA, you may be able to recover some or all of your money.

Another example is if a broker steals your money or engages in fraudulent activities, the SIPA may provide insurance coverage to help you recover your losses.

The Securities Investor Protection Act was created to protect investors from losing their money in case their brokerage firm fails or engages in fraudulent activities. The examples illustrate how the SIPA provides insurance coverage to help investors recover their losses in such situations.

sin tax | si parcere ei sine suo periculo non potest

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12:27
Did someone say chicago big law friends? I am in
hello chi big law friend
i work midsize law rn in chi
ParallelAgreeableOrangutan
12:50
@MisterSaint: WashU called me with my A six days post-interview (interviewed last Tues). I think timelines are a bit extended rn since it's crunch time in admissions offices
bands a make her dance
bands a make her dance
Mostlylegal
13:03
ovi
13:09
Will law schools accept applicants with 3.4-3.6 gaps ima. freshman in college and I want to know what to prioritize in college
13:10
is it more LSAT or grades, I haven't gotten a c but will one C ruin my chances of going?
13:10
Trying to get in UC Law School after undergrad
@UnevenInstinctiveSeal: Don't give up yet, they are still doing interviews (I have mine tomorrow)
Thanks! But considering my interview was over 3 months ago and I applied 5 months ago, it's hard to be hopeful. I'm expecting a WL/R I just don't know why I keep missing those waves.
[] c0bra1
13:21
@Bobcat4life: i have a gpa in that range with 1 C because of certain circumstances but i would recommend getting it up as much as possible
[] c0bra1
13:21
i had a lot of medical issues one year and explained that
13:25
How lenient would Law Schools be with medical issues like ADHD?
eggan
13:26
cornell WL -> R :(
13:26
I performed mediocre first semester im looking at 3 As and maybe a b and a B+ this semester
13:27
Do your minors reflect well on Law School applications anyone?
13:27
and certificates?
little to no effect
13:29
Hey bobcat, take a deep breath. There isn't any reason to stress yourself out if you have three more years of school left. Try your best to get good grades, study hard for the LSAT and that is 90% of the game. during your next few years get close with a couple professors who can write you a LOR and if possible, do some sort of publishing whether that be a senior thesis or for some research. But there is no reason to stress so much right now.
[] c0bra1
13:32
trying to do your best or even a little less than your best is the way to go. sometimes you will work really hard and exhaust yourself trying to get a good result. 3 years is a long while!
13:35
poor bobcat
13:36
fr fr, I am worried they might have a heart attack over their keyboard
Mostlylegal
13:40
Prioritize your gpa.
but also, dont forget to have fun
[] c0bra1
13:56
or do something youre interested in lol
MrThickRopes
14:03
WAVES TD?
Mostlylegal
14:08
SO MANY WAVES TODAY
Mostlylegal
14:08
jk prob tmrew
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