The SEC has been reviewing whether SIPC wrongly denied claims from investors who lost money with R. Allen Stanford. The SEC will decide "in the near future" whether alleged victims should receive reimbursement from SIPC, SEC enforcement director Robert Khuzami and inspections chief Carlo di Florio said in May at a House Financial Services Committee hearing.
Stanford, 61, was indicted in June 2009 on criminal charges claiming he misled clients about the safety and oversight of certificates of deposit issued by his Antigua-based bank. Stanford denies the charges and is scheduled for trial in federal court in Houston in September.