Have you recently suffered significant losses on the stock market? If so, and your broker or brokerage firm is found to have been negligent, a highly trained stockbroker fraud attorney can help you hold them accountable.
Investors need to be able to trust their stockbrokers and financial advisors, but when your broker commits fraud, it is not uncommon to be facing massive stock losses as a result of their irresponsible decisions. When your stockbroker has wronged you for their own gain, you have the right to bring them to justice by filing a complaint with the Financial Industry Regulatory Authority (FINRA).
Your stockbroker fraud lawyer at Meissner Associates is ready to help you recover full compensation for your losses. We will work diligently to shine a light on the schemes your broker has participated in that led to your stock market loss so you can be repaid for the financial hit you took as a result of your stockbroker’s reckless choices.
A Broker’s Legal Obligation
All stockbrokers are obligated under the duty of fair dealing to only make decisions that are in the best interests of their investors. The duty of fair dealing also contains specific responsibilities that need to be met in order for their obligations to be fulfilled. Some of these duties include:
- making investments and recommendations that align with the investors objectives and goals as outlined in their investment portfolio
- ensuring that securities are always sold at fair market value
- researching financial markets
- informing investors of potential conflicts of interest
- disclosing relevant information that impacts investments
- meeting suitability requirements for possible investments
Stockbroker and brokerage firm conduct is regulated by both the United States Securities and Exchange Commission (SEC) and FINRA, but despite these regulations, numerous financial institutions require that brokers do whatever they can to increase profits—even if that means engaging in misconduct or fraud.
Examples of Stockbroker Fraud
Due to the fact that financial markets are so complex, stockbrokers can commit fraud under the radar for months or even years without being noticed. Some of these types of fraud are more commonly seen than others. These schemes often include:
- Selling away
- Failure to supervise
- Churning (excessive trading)
- Excessive use of margin
- Unauthorized trading
- Making unsuitable investments
These are just a few of the different ways a stockbroker can act fraudulently. In any of the aforementioned schemes, investors are at risk for substantial financial losses. If you have discovered that your broker made poor investment decisions or swindled you, get in touch with a stockbroker fraud attorney as soon as possible.
Work with a Broker Fraud Lawyer
Losing investments that are greater than $100,000 can be devastating, and when it happens to you, you’ll want to enlist the services of a stockbroker fraud lawyer with years of experience.
Our team of highly trained attorneys at Meissner Associates are ready to help you work to recover your losses. You can schedule your free case review today by calling our office at 212-764-3100 or by completing the secure contact form we have provided below.