answered on Nov 17, 2020
It is not "illegal" to share your login credentials, but it is likely a violation of your brokerage account agreement. Most brokerage account agreements contain language that says you agree you will not share your login information with a third party. So, it could be a breach of your... Read more »
answered on Feb 17, 2020
Generally speaking, TOD means "Transfer on Death," and STA means "Securities Transfer Association." Your question remains open for four weeks; for a meaningful explanation of these terms, you should consider consulting with an attorney knowledgeable in probate/estate law, more... Read more »
me he was only required to disclose if I directly asked him. Is this true?
answered on Nov 19, 2018
Whether a financial advisor registered with FINRA must report to his broker dealer or disclose on his brokercheck when they have” been sued” depends on 2 things:
1. The total settlement amount and whether the registered person was involved in an alleged sales practice violation... Read more »
answered on Oct 25, 2018
If you feel your investment account is being mismanaged you can report this to Financial Industry Regulatory Authority or ("FINRA"). This self-regulatory organization or ("SRO") oversees brokerdealers and sets compliance rules by which they must act. FINRA is where customer... Read more »
company my broker had me invest in and after two months, nothing - is he required to give this to me?
answered on Oct 5, 2018
If you have the name of the company you can simply go onto the SEC platform known as EDGAR and enter the name of the company or its ticker. This SEC platform will contain a trove of data on the company at issue. As for the broker there is no regulation that I am aware of that mandates a stock... Read more »
me against bad investments and what a broker has to tell me - is that true?
answered on Sep 14, 2018
There are rules in place protecting you against bad or unsuitable investments. FINRA suitability rules for instance require that any investment recommendation made by a broker to an investor must be in line with investors stated financial profile and objectives. What I think you might be... Read more »
answered on Aug 23, 2018
Whether a client needs to be contacted really depends on the context concerning the question. If the investment account is a non-discretionary account then the broker has to contact the client prior to each trade being entered. If the account is a managed account where the broker has received... Read more »
answered on Apr 16, 2018
It is certainly possible, but the chances of recovery are dependent on very specific facts that are not provided here, such as any contracts signed and any representations made by your stockbroker. That being the case, I recommend you organize everything in your possession related to this matter,... Read more »
answered on Mar 2, 2018
The viability of a lawsuit is a very fact specific determination that cannot possibly be answered definitively without more details. That said, you may have a case depending on specific representations that may have been made by the trader. I recommend organizing everything you have in your... Read more »
My realtor and listing agent are in the same office. The listing agent keeps saying I should find houses that are not hers. We have the down payment and all. She tells people I am a risk and not to take offer. She will even refuse to give my realtor the code to a house.
answered on Jan 17, 2018
Take these facts to a lawyer's office. Something is seriously wrong if a listing agent in a brokerage you ware working with is telling people you are a risk. If your realtor is telling you the listing agent says this, I would question whether the realtor is telling you the truth.
misinformation and fraudulent claims. Do I have any claims or recourse at this time? Thank you.
answered on Aug 7, 2017
You may have recourse, but fraud claims are extremely fact intensive, so an attorney would need to review all of the specific information to give you a comprehensive evaluation of the merits of your claim(s). That said, I would recommend organizing all information relevant to this situation,... Read more »
seeing any financial benefit for this excessive trading but he sure is making money off the fees I have to pay him. Is this legal?
answered on May 8, 2017
Churning is unethical.
Depending on what is being done, it may be illegal.
Why don't you take control over the account.
answered on Nov 16, 2016
The answer to your question depends on specific facts that are not provided here. Assuming you reside in Illinois, and the broker does business in Illinois, you should be able to file suit in Illinois. I would recommend consulting with an attorney individually prior to doing so, as there are... Read more »
Can he be held liable for the resulting losses?
answered on Oct 14, 2016
It is possible that your stock broker can be liable, but the feasibility of your recovery depends on very specific facts. Do you have a contract with the stock broker that outlines your relationship? Do you have written evidence of your request for him to buy a significant amount of stock? In... Read more »
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