Washington, D.C. — U.S. Senator Susan Collins issued this statement following the announcement that former Congressman Bruce Poliquin has been nominated to serve as Chairman of the Board of Securities Investor Protection Corporation (SIPC).
“Congratulations to Bruce Poliquin on this impressive nomination,” said Senator Collins. “As a member of Congress, Bruce fought hard to protect the savings of hardworking Americans. I know Bruce will bring that same tenacity—along with his years of experience in business—to this new role.”
SIPC is a private nonprofit corporation created by Congress in 1970. SIPC protects small investors such as retirees from losing their life savings in the event of a brokerage investment firm’s failure. Between 2015 and 2018, SIPC recovered $5.8 billion for small investors.