Broker Misconduct

Broker misconduct covers the vast majority of actual claims. The practice area lists encompasses the most significant and common of those claims. However it's important to know that you should be thinking outside the box. For example: the USA's Patriot Act signed by Pres. George W. Bush in 2001 includes an international money laundering abatement and antiterrorist financing provision which has become a bane to stockbrokers. If your stockbroker, or financial advisor fails to complete and compliant with all the filing requirements of the suspicious activity reports requirement you may have an instant win for broker misconduct.

Compliance officers in all the major stock brokerage firms United States actively and daily prompt stockbrokers to file suspicious activity reports most of which are wasteful both in time and resources. But broker misconduct includes more than just the failure to act appropriately in the relationship between themselves and the investor. Broker misconduct also includes failures of the broker to report appropriately and as required under statute. Because consequences for stockbrokers, financial advisors, and stock brokerage houses to comply with the reporting requirements are so onerous they are often left undone. Part of being an aggressive litigator in representing injured parties is knowing not only how to ask questions, but what questions to ask. Increasingly the most aggressive and most winning lawyers who litigate in arbitration against stockbrokers and financial advisors with claims of fraud or conflicts sent subpoenas to the stockbrokers for SAR reports. When those subpoenas come back there is a resounding silence as the compliance officers on the other side of the litigation hold their breath.

It's a good sound for litigators who represent injured parties in arbitrations. When you sit down with your securities lawyer in Fort Lauderdale, Boca Raton, or Palm Beach asked them about focusing your claims on the compliance failures in addition to the fraud acts of your responding stockbroker, financial advisor, or financial professional.