Cite as: 503 U. S. 258 (1992)
Opinion of the Court
to make such advances. See 15 U. S. C. § 78fff-3(b)(2).22
SIPC relies instead, see Brief for Respondent 37, and n. 180, on this SIPA provision:
"SIPC participation—SIPC shall be deemed to be a party in interest as to all matters arising in a liquidation proceeding, with the right to be heard on all such matters, and shall be deemed to have intervened with respect to all such matters with the same force and effect as if a petition for such purpose had been allowed by the court." 15 U. S. C. § 78eee(d).
The language is inapposite to the issue here, however. On its face, it simply qualifies SIPC as a proper party in interest in any "matter arising in a liquidation proceeding" as to which it "shall be deemed to have intervened." By extending a right to be heard in a "matter" pending between other parties, however, the statute says nothing about the conditions necessary for SIPC's recovery as a plaintiff. How the provision could be read, either alone or with § 1964(c), to give SIPC a right to sue Holmes for money damages simply eludes us.
IV
Petitioner urges us to go further and decide whether every RICO plaintiff who sues under § 1964(c) and claims securities fraud as a predicate offense must have purchased or sold a security, an issue on which the Circuits appear divided.23
We decline to do so. Given what we have said in Parts II
22 To the extent that SIPC's unexplained remark at oral argument, see Tr. of Oral Arg. 29-30, could be understood to rest its claim for recovery of these advances on a theory of subrogation, it came too late. One looks in vain for any such argument in its brief.
23 Compare 908 F. 2d, at 1465-1467 (no purchaser-seller rule under RICO); Warner v. Alexander Grant & Co., 828 F. 2d 1528, 1530 (CA11 1987) (same), with International Data Bank, Ltd. v. Zepkin, 812 F. 2d 149, 151-154 (CA4 1987) (RICO plaintiff relying on securities fraud as predicate offense must have been purchaser or seller); Brannan v. Eisenstein, 804 F. 2d 1041, 1046 (CA8 1986) (same).
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