Western Colorado Failure To Supervise Law Firm. Representing Investors Who Have Suffered Portfolio Losses Due To Inappropriate Recommendations By A Broker
The Shepherd Smith Edwards and Kantas Colorado Failure To Supervise Law Firm (investorlawyers.com) represents victims throughout Western Colorado whose broker failed to properly supervise their account or financial advisor. Contact our Ridgway, CO securities law office if you are someone who would like to explore your legal options.
The Duty of Broker-Dealers To Supervise
Unfortunately, despite being required to properly oversee their registered representatives and activities in customer accounts, many broker-dealers end up falling short when it comes to fulfilling this obligation.
Failure to supervise is one of the most common legal grounds given in investment loss recovery claims. As a Western Colorado investor, you want to work with a knowledgeable securities law firm that knows how to identify what caused your portfolio losses.
Failure to supervise is the legal term given to when a broker-dealer does not properly oversee the actions of its financial advisors. This can include: not monitoring activities in customers’ accounts, ignoring red flags indicating potential broker fraud, not properly vetting a broker before hiring them, failing to set in place and implement the appropriate written and supervisory procedures, neglecting to ensure regulatory compliance, and more.
If you lost money in your portfolio and supervisory failures by the broker enabled or allowed those losses to occur because of unsuitable investment recommendations, churning, unauthorized trading, misrepresentations and omissions, misappropriation, negligence, gross negligence, or other broker misconduct, you may be able to sue for damages.
What Does a Colorado Failure To Supervise Claim Require?
For there to be a supervisory failure by a broker-dealer claim, there needs to have been:
- A violation of securities.
- A registered representative or another associated person who committed the violation;
- The firm in question had supervisory jurisdiction over this individual.
- And there was no reasonable supervision of this individual.
A securities violation can involve broker misconduct or negligence, a violation of securities regulations, or some other action. Regarding supervisory jurisdiction, not only must a broker-dealer review the activities of every broker, branch, and office, but it must perform periodic examinations of customer accounts, look at any outside business activities of their brokers, and inspect unregistered offices, books and records and more.
What Should You Do If You Suspect Your Investment Losses Involved A Brokerage Firm’s Failure To Supervise?
Contact our Colorado Failure To Supervise Law Firm today. We have over 100 years of collective experience in securities law and the securities industry. This is not the kind of legal claim you want to pursue without proper legal representation.
If you do have grounds for a failure to supervise lawsuit, you will need to bring your claim to FINRA arbitration. Any ruling by the arbitration panel will likely be final, so it is important that you bring the strongest securities case possible from the start.
For most investors who end up suffering portfolio losses, that experience is stressful and can be financially devastating. Shepherd Smith Edwards and Kantas know the toll all of this can take. This is why we are committed to providing both quality securities representation and personalized attention.
We make it a point to make sure that the arbitrators who end up ruling on your failure to supervise lawsuit see what we do: You are more than a set of facts, financial losses, and allegations on a legal document. The outcome of your lawsuit could have a significant impact on the rest of your life.
Many of us are former brokers who left the brokerage industry because we didn’t like the way investors were being treated. It is why we do what we do now, fighting for retail investors, retirees, accredited investors, wealthy investors, and institutional investors.
Contact Our Western Colorado Failure To Supervise Law Firm
Even if your financial advisor is no longer with the broker-dealer that you hired to manage your money, you still may be able to bring a failure to supervise case against the firm.
Call our Colorado Failure To Supervise Law Firm at (970) 239-7085 or (800) 259-9010 or fill out this contact form:
241 S Elizabeth St #500
Ridgway, CO 81432