Stockbrokers and investment advisers have legal obligations to treat clients fairly. This includes the duty to act in a customer’s best interests and not put their own interests before those of the customers.
Unfortunately, some brokers and advisers violate these duties by engaging in negligent or fraudulent conduct that costs their clients considerable sums in investment losses. If you or someone you care about lost money because of a broker, adviser, or brokerage firm’s failure to act in your best interests, you may have grounds to pursue a recovery through FINRA arbitration.
At Malecki Law, our New York investment loss recovery attorneys have recovered tens of millions of dollars in investment losses for clients across the U.S. and the world. Led by Attorney Jenice Malecki, a respected authority in the field, have leverage decades of unique experience from both sides of the fence to get results for investors.
Investment professionals (often called brokers, financial advisors and/or investment advisors) and broker-dealers are licensed and registered with the state and with FINRA and/or the SEC, like doctors or lawyers are licensed with boards and bars. Disclosure and investor protection and two of the main mandates along with stability of the markets, in the Securities Exchange Act of 1933, the Securities Act of 1934, the Investment Advisor Act of 1940, Regulation Best Interest and FINRA’s Conduct Rules.
Since the thrust of all the laws is disclosure and investor protection, imbedded in that disclosure requirement is not only that they give you complete and accurate information, but to make sure that you understand it. You should not need to be a New York City securities attorney to understand something in which you are investing. If you do not understand an investment, you should not be in it, and it should not have been recommended to you under the rules.
These days, securities products (like structured proprietary products created by the broker-dealer, Leveraged ETFs, Notes, CMOs/CDOs, REITS, Variable Annuities, and the like) have become increasingly complicated. Brokers themselves often do not understand the product, which is a real problem for investors and show a failure of supervision and training at the firm. Firms these days are notorious for creating complex products and withholding information from brokers who they pressure to sell to retail investors. Brokerage firms, whether operating as a large office or through a broker’s independent branch office, are legally responsible both for the brokers’ conduct, as well as its own conduct in failing to supervise, monitor and educate the broker as if everything a broker sold and everything a broker does needed approval (which in fact it does).
If you have a dispute with a broker or brokerage firm, you will be required to go to arbitration in most cases, a forum Malecki Law’s New York investment loss recovery attorneys regularly appears in for investors.
Here are some of the types of claims investors have brought to recover their investment losses:
- Common Law Fraud (Scams) & Misrepresentations and Omissions under Federal Securities Laws
- Unsuitability and Regulation Best Interest
- Elder, Affinity, and Minority Fraud and Ponzi Schemes
- Churning / Overtrading
- Unauthorized Trading
- New Products, Defective Securities Products and Structured Products
- Sales Practice Violations
- Breach of Fiduciary Duty
- Private Placements, “Hedge Funds,” Limited Partnership Issues & Other Non-Conventional Investments
- Margin Violations
- Failures to Execute
- Failure to Supervise
- Breach of Contract
- Conversion and Theft
- Market Manipulation
- Variable Annuities
You need to ask: why are you buying the investment at this time, in this market, and why it is recommended at this stage in your life? The same investment is not right for everyone, and every investment is not right in every market period. When someone recommends an investment to you, they need to look at all these factors.
The problem with the brokerage industry is that brokers are commissioned salespeople, like car salespeople. Their work is often, unfortunately, judged by how much revenue they bring the firm, not how successful a client’s portfolio is. Sometimes those concepts are in line and correlated; sometimes, they are not, and investments are recommended because of the high commission they generate.
Having successfully represented small to high-net-worth investors in cases against some of the industry's largest brokerage firms, our investment loss recovery lawyers in New York provide free consultations and representation for investors to determine whether they have been victimized. Malecki Law's investment fraud attorneys have helped numerous investors recover tens of millions of dollars in losses and stand ready to represent you in lawsuits and arbitrations involving broker misconduct, fraud, negligence, and more.
Our New York investment fraud attorneys have experience in many forums, which we use to ensure the most advantageous and appropriate jurisdiction is being utilized for your case. Such forums include:
- United States Securities and Exchange Commission ("SEC")
- United States Commodities Futures Trading Commission
- Financial Industry Regulatory Authority ("FINRA")
- New York Stock Exchange ("NYSE")
- American Stock Exchange ("AMEX")
- National Futures Association ("NFA")
- Municipal Securities Rulemaking Board ("MSRB")
- Certified Financial Planners Board of Standards ("CFP Board")
- Various State Attorney General Offices
- Arbitration Forums such as the American Arbitration Association (AAA) and FINRA
- Mediation Forums such as JAMS Endispute
- Federal Court
- State Court
Attorney Jenice Malecki and our team take decisive measures to help wronged investors explore their options, viable claims, and avenues for pursuing a financial recovery. If you wish to discuss your matter with a New York securities attorney lawyer from our firm, call or contact us online. We offer FREE and confidential consultations and serve clients across the U.S. and beyond.