Breach Of Contract
Each person who opens a brokerage account completes an application or other agreement with their broker (or other financial professional), and/or the broker-dealer or investment advisor that the stockbroker represents. This agreement is a legally binding contract and requires the investor, the stockbroker (or other investment professional), and the firm to comply with its terms.
These agreements often state that the broker and his or her firm agree to comply with all applicable laws, as well as all rules, and regulations of the SEC and/or self-regulatory organizations (SROs), such as the Financial Industry Regulatory Authority (FINRA). If the stockbroker and/or firm fails to comply with these laws, rules, and/or regulations, they have breached their agreement with their customer and, if the breach causes the investor to be harmed, may be liable for that harm.
If you feel that your broker or investment professional has failed to live up the terms of your agreement, contact Stephanie M. Beige to discuss your rights.