You and your stockbroker or brokerage firm are both working toward a common goal of realizing a return on your investments. When you make money, so do they. Sometimes, however, this financial motivation results in losses — ones you should not experience if you did not authorize a deal in the first place.
What Is Unauthorized Trading?
Unauthorized trading, even that done with good intentions, is a Financial Industry Regulatory Authority (FINRA) rule violation. Your stockbroker must have authorization from you before playing with your investment and putting your financial well-being at risk. When this unauthorized trading results in losses for you, you could have reason to pursue legal recourse as a defrauded investor.
The New York City lawyers at Bachner & Associates, P.C., have vast experience representing victims of unauthorized trading. Take action today by calling us at 877-388-6461. We can explain your options and aggressively pursue legal action to recover what you have lost.
Stockbroker Fraud And Churning
Financial advisers are typically paid on either flat rate or percentage-based commissions. Depending upon the nature of this payment structure, they may be paid each time a trade is made. This can motivate stockbrokers to make discretionary trades on behalf of investors. They may simply trade to increase their own wealth, as opposed to making decisions in the best interest of the investor.
This kind of unauthorized trading is irresponsible and in most cases sets investors up for steep financial consequences. Our firm is equipped with legal experience and knowledge of investment practices, which, when taken together, help our attorneys develop strong cases on behalf of defrauded investors throughout New York.
Help For Victims Of Unauthorized Trading
If you believe your investment losses are the result of breach of fiduciary duty or misconduct on the part of your financial adviser, contact the experienced attorneys at Bachner & Associates, P.C. You can use our online contact form to tell us about your case or 917-639-5370 or 877-388-6461. We can make sure your concerns are addressed and your rights are upheld.