Securities Investor Protection Corp. v. Barbour

419 U.S. 894 | SCOTUS | 1974

C. A. 6th Cir. Certiorari granted limited to the following questions:

1. Whether customers of a Member have an implied private right of action to compel SIPC to meet its alleged obligations to them under the Act, despite § 7 (b) thereof which grants that right only to the Securities and Exchange Commission?

2. If such a right of action can be implied, whether a receiver of a Member has standing to maintain it?