TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Inspection
Name of the organization
Securities Investor Protection Corporation
Employer identification number
52-0910763
52-0910763
| Return Reference | Explanation |
|---|---|
| MEMBERS AND STOCKHOLDERS | FORM 990, PART VI, SECTION A, LINE 6 SIPC IS A MEMBERSHIP CORPORATION. MEMBERSHIP IS BY OPERATION OF LAW. |
| STOCKHOLDERS OR PERSONS OTHER THAN GOVERNING BODIES | FORM 990, PART VI, SECTION A, LINE 7B NO DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS. HOWEVER, PROPOSED RULE CHANGES AND BYLAW CHANGES ARE SUBJECT TO REVIEW BY THE U.S. SECURITIES AND EXCHANGE COMMISSION. |
| NAME AND ADDRESS OF OFFICERS WHO CANNOT BE REACHED IN THE | ORGANIZATION'S MAILING ADDRESS FORM 990, PART VI, SECTION A, LINE 9 - DANIEL M. COVITZ, DEPUTY DIR., FED RES. BD., DIV OF RESEARCH & STATISTICS, BD. OF GOV. OF THE FED RES. SYSTEM, 20TH & CONSTITUTION AVENUE, N.W., WASHINGTON, DC 20551 - ANTHONY D'AGOSTINO, 2321 CAVESDALE ROAD, OWINGS MILLS, MD 21117 - W. MOSES KIM, DIRECTOR, OFFICE OF FIN'L INST. POLICY, U.S. DEPT. OF THE TREASURY, 1500 PENNSYLVANIA AVE., N.W., WASHINGTON, DC 20220 - WILLIAM S. JASIEN, STONEHEDGE GLOBAL PARTNERS, 12500 FAIR LAKES CIRCLE - SUITE 150, FAIRFAX, VA 22033 - GREGORY S. KARAWAN, GENWORTH FINANCIAL, 6620 W. BROAD ST., BUILDING 2 - 8TH FLOOR, RICHMOND, VA 23230 |
| FORM 990 REVIEW PROCESS | FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY GRANT THORNTON, AN INDEPENDENT ACCOUNTING FIRM, WITH SUPPORT FROM THE SIPC ACCOUNTING STAFF, DIRECTED BY THE VICE PRESIDENT-FINANCE, USING THE BOOKS AND RECORDS OF THE CORPORATION AFTER THE COMPLETION OF AN AUDIT BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS. THE FILING WAS REVIEWED BY THE PRESIDENT & CEO OF SIPC. PRIOR TO THE FILING, COPIES OF THE COMPLETED FORM 990, INCLUDING REQUIRED SCHEDULES, AS IT WAS FILED WITH THE IRS, WERE PROVIDED FOR REVIEW TO THE AUDIT AND BUDGET COMMITTEE OF THE SIPC BOARD OF DIRECTORS AT ITS JUNE 2020 MEETING. THE FORM 990 WAS ALSO PROVIDED TO THE SIPC BOARD OF DIRECTORS FOR ITS REVIEW AT ITS JUNE 2020 MEETING WITH RECOMMENDATIONS BY THE AUDIT AND BUDGET COMMITTEE. |
| CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT | FORM 990, PART VI, SECTION B, LINES 12B AND 12C SIPC HAS WRITTEN BUSINESS ETHICS AND WHISTLEBLOWER POLICIES, WHICH INCLUDE PROVISIONS REGARDING CONFLICTS OF INTERESTS, THAT APPLY TO ALL EMPLOYEES. THEY ARE INCORPORATED INTO THE WRITTEN PERSONNEL GUIDE. UPON EMPLOYMENT AND ANNUALLY THEREAFTER EACH EMPLOYEE, INCLUDING OFFICERS MUST SIGN A DOCUMENT STATING THAT THEY HAVE READ AND UNDERSTAND THOSE PROVISIONS. ANY CONFLICT OF INTEREST MUST BE REPORTED TO AN EMPLOYEE'S SUPERVISOR, AND REVIEW OF SUCH MATTERS IS UNDERTAKEN BY THE OFFICE OF THE GENERAL COUNSEL. PENDING REVIEW OF ANY CONFLICT, AN EMPLOYEE WILL BE PROHIBITED FROM WORKING ON THE RELEVANT MATTER. DURING THE ANNUAL AUDIT, THE INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS, INQUIRE OF THE STAFF ON A TEST BASIS AS TO THEIR UNDERSTANDING OF THE POLICIES AND REPORT THEIR FINDINGS TO THE AUDIT AND BUDGET COMMITTEE OF THE SIPC BOARD OF DIRECTORS. UPON APPOINTMENT AND AT LEAST ANNUALLY THEREAFTER EACH NON-GOVERNMENT DIRECTOR SHALL CERTIFY IN WRITING THAT HE OR SHE HAS READ AND UNDERSTOOD AND WILL ADHERE TO THE CODE OF ETHICS FOR DIRECTORS: THAT HE OR SHE HAS NO KNOWN CONFLICTS OF INTEREST. THE GOVERNMENT DIRECTORS MUST ADHERE TO THEIR GOVERNMENT STANDARDS AND CODES OF ETHICS. EACH DIRECTOR ALSO MUST IMMEDIATELY DISCLOSE ANY CONFLICT AS IT ARISES AND RECUSE THEMSELVES FROM ANY DECISION SO AFFECTED. ANY SUCH EVENT IS DOCUMENTED IN THE MEETING MINUTES. |
| PROCESS FOR DETERMINING COMPENSATION | FORM 990, PART VI, SECTION B, LINES 15A AND 15B COMPENSATION FOR ALL SIPC OFFICERS IS SET BY THE SIPC BOARD OF DIRECTORS ANNUALLY IN CONFORMITY WITH COMPENSATION GUIDELINES ADOPTED BY THE BOARD AND BASED ON THE RECOMMENDATIONS OF THE COMPENSATION COMMITTEE OF THE SIPC BOARD OF DIRECTORS. THEY REVIEW FORM 990 DATA FOR OTHER ORGANIZATIONS, SALARY STUDIES, U.S. GOVERNMENT PAY SCALES, SECURITIES INDUSTRY DATA, AND INFLATION STATISTICS FROM THE U.S. DEPARTMENT OF LABOR, BUREAU OF LABOR STATISTICS, AS WELL AS PERFORMANCE AND WORK LOADS. GENERALLY, AN INDEPENDENT COMPENSATION STUDY IS COMMISSIONED EVERY THREE YEARS. THE LAST STUDY WAS BEGUN IN 2019. |
| HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC | FORM 990, PART VI, SECTION C, LINE 19 SIPC WAS CREATED BY THE SECURITIES INVESTOR PROTECTION ACT (15 U.S.C. 78AAA. ET SEQ.). THIS STATUTE, SIPC RULES AND THE SIPC BYLAWS, WHICH INCLUDES "CONDUCT OF EMPLOYEES OF THE SECURITIES INVESTOR PROTECTION CORPORATION" IN SECTION 5, ARE POSTED ON THE SIPC WEBSITE: WWW.SIPC.ORG. THE CURRENT, AS WELL AS THE ENTIRE PRIOR 49 YEAR HISTORY OF, SIPC ANNUAL REPORTS, INCLUDING THE AUDITED FINANCIAL STATEMENTS, ARE ALSO POSTED ON THE WEBSITE. COPIES WILL BE MAILED UPON REQUEST. |
| OTHER CHANGES IN NET ASSETS AND FUND BALANCES | FORM 990, PART XI, LINE 9 PENSION AND POST-RETIREMENT BENEFIT RELATED CHANGES OTHER THAN NET PERIODIC PENSION COSTS $(3,597,040) |
| FORM 990 PART IX LINE 24 - OTHER EXPENSES | DESCRIPTION:PERSONNEL RECRUITMENT TOTAL EXPENSES:29934 |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2019
Additional Data
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