Q: Which legal platform needs to be used : Small Claims, Civil or FINRA for this? Claim can range from $5000 to $50000
I have an account with a brokerage firm and they have wrongfully escheated and sent my money to Department of Financial Services (Escheatment) in Florida. On enquiring, I have learnt that they have failed to follow the Due-diligence as per Florida Statues 732 and 717 and have also violated 17 CFR Part 240 of SEC, violated Section 17A(d) of the Exchange Act [15 U.S.C. §78q-1(d)] and Rule 17Ad-17 [17 C.F.R. §240.17Ad-17] . in one case with SEC BNY was fined $250,000. DISCOVERY PROCESS IS VERY IMPORTANT !
The escheated amount is less than $100 but if discovery process is made then Punitive Damages can be brought into light. The company has a registered agent in California and I am a florida resident
I sent them a Certified Mail and Email along with violation statues and asking them to reimburse with small compensation. the Customer Advocacy Team Member has denied any compensation but are willing to reimburse principal amount subject to singing of settlement agreement
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