H.R. 827: Improving SIPC Act of 2013

113th Congress · introduced 2013-02-26 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

Where it came from: introduced 2013-02-26 · official record
Who proposed it: Rep. Cassidy, Bill [R-LA-6] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Improving SIPC Act of 2013

Plain summary

Improving Security for Investors and Providing Closure Act of 2013 or Improving SIPC Act of 2013 - Amends the Securities Investor Protection Act of 1970 with respect to any action in a U.S. district court by the Securities and Exchange Commission (SEC) against the Securities Investor Protection Corporation (SIPC) in the event that SIPC refuses to commit funds or otherwise act for the protection of customers of any SIPC member (debtor broker or dealer). Authorizes SIPC, at the time the SEC action initiates such action, to allow all customers of the debtor broker or dealer to elect to receive a one-time payment from the SIPC Fund. Prescribes procedures for such customer election. Limits the amount paid to a customer under such election to the lesser of: (1) the customer's net equity claim against the debtor, and (2) a $500,000 cap on one-time payments. Subrogates SIPC to all rights of the customer receiving a one-time payment against the debtor once the customer recovers an amount equal to the customer's net equity claim against the debtor. Treats a certificate of deposit (CD) purchased by a person through an account with the debtor as cash deposited and held by the debtor in an amount equal to the amount the person paid for the CD, less any amounts paid to such person on the CD. Permits a person prevented from making an election under this Act because SIPC does not identify such person as a customer of the debtor to challenge that determination in federal district court.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

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A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Improving SIPC Act of 2013

Source: Congressional Research Service summary (Introduced in House)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Cassidy, Bill [R-LA-6] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Rep. Cassidy, Bill [R-LA-6] reported raising $6.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr827.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>

Record fed-us-cong113-hr827 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113