Miss. Senators asks SEC to appeal compensation ruling

U. S. Senators Thad Cochran and Roger Wicker are among a group asking the Securities and Exchange Commission to appeal a court ruling that will affect investors who lost money in the Stanford Financial Group case.

In a letter to Mary Schapiro, chairwoman of the SEC, they ask her to file an appeal over a recent court decision which determined victims of the multi-million dollar fraud cannot be compensated through the Securities Investor Protection Corporation.

Cochran says the SEC should not give up the fight to get some compensation for those who lost their savings in the Ponzi scheme.