Miami attorney Armando J. Bucelo, Jr., is the new chairman of the board of the Securities Investor Protection Corporation (SIPC), which Congress created to maintain a special reserve fund to help investors at bankrupt brokerage firms.
Bucelo has been active for three years as a presidential appointee on the board of SIPC, upon which he is both the first Hispanic and first Floridian to so serve his nation.
Bucelo was appointed by President Bush as a director of SIPC in 2002 and became vice chairman of the board in 2003. He is stepping into the position formerly held by W. R. “Tim” Timken, Jr., who was chairman of the board of the Securities Investor Protection Corporation from 2003 to 2005.
“The work of SIPC is integral to confidence in the integrity and fairness of our capital markets,” Bucelo said. “It is part of my focus to ensure that all Americans — including those who may be new to this nation and those who may not speak English as their first language – learn of how the Securities Investor Protection Corporation can serve them.”