Chicago Regulation Best Interest Lawyers

Shepherd Smith Edwards and Kantas represents Illinois investors seeking to recover losses caused by broker-dealers who violate the SEC’s Regulation Best Interest rule. Their experienced securities attorneys assist clients through FINRA arbitration to identify misconduct, protect investor rights, and secure financial recovery.

Throughout the great US state of Illinois, Shepherd Smith Edwards and Kantas (investorlawyers.com) represents investors who have suffered losses because their financial advisor made investment recommendations that were not in their best interests. Contact our Chicago Reg BI recovery law firm now if you want to explore your legal options.

What Does It Mean To Have Your Financial Advisor Ignore Your Best Interests?

Under the Securities and Exchange Act of 1934, the Securities and Exchange Commission’s (SEC’s) Regulation Best Interest (Reg BI), mandates that brokers only make an investment recommendation if it is in a customer’s best interest. This applies not just to when they are selling a particular security or product, but also when they are suggesting a specific investment strategy or type of account. Always, the stockbroker must prioritize your financial interests over their own.

Financial advisors are required to fulfill a number of obligations under this rule, including those involving disclosure, compliance, care, recordkeeping, and conflicts of interest.

Unfortunately, Regulation Best interest violations happen way too often, and it is the investors that end up losing. Some examples:

• Your financial advisor recommended that you engage in mutual fund switching, even though your original investment was doing fine, because they wanted to earn the additional fees.
• Your broker suggested you borrow on margin, despite the fact that you are a retail customer for which this approach is too risky, because it could make the firm more money.
• When there were clear red flags indicating that your alternative investment was fraudulent, not only did your broker-dealer fail to tell you that your money was in trouble, but also they decided to keep your funds in the product.
• Your stockbroker made unauthorized trades in a product that was never approved or vetted by the firm because they wanted to earn additional fees on the side.
• The registered representative is a thief who stole your money while using their affiliation with the brokerage firm to access your retirement funds.
• The broker-dealer pushed a risky, illiquid product on you because of the multi-layer of fees they could earn from the sale—fees that they neglected to properly disclose or explain to you.

Why Is It Important To Hire A Chicago Regulation Best Interest Law Firm To Represent You?

• Proving that your financial advisor ignored your best interests can be tough, which is where Shepherd Smith Edwards and Kantas can help. We have more than a century’s worth of collective experience in securities law and the securities industry. We represent many investors with Regulation BI claimsagainst brokers.
• There are likely other broker fraud misconduct related to your Reg BI violation allegations. A seasoned Chicago, Illinois securities law firm will know how to identify whether you also should sue for unsuitable investment recommendations, misrepresentations and omissions, overconcentration, breach of fiduciary duty, supervisory failures, negligence, breach of contract, selling away, churning, or negligence.
• Regulation Best Interest claims against brokerage firms are filed in FINRA arbitration. This is not the same as going to court. You want to hire knowledgeable investment loss recovery attorneys that are also seasoned FINRA lawyers that know how to win in this particular legal forum.
• The broker you are suing will most certainly have their own legal team representing them. You want your own Chicago Reg BI securities law teamprotecting your legal rights.

Why Hire Shepherd Smith Edwards and Kantas

Our Chicago, Illinois Reg BI law firm has represented thousands of investors against brokers all over the United States, including those located in the Chicago financial district as well as throughout Illinois. We have won a collective many millions of dollars in awards and settlements for our clients. Our securities lawyers are dedicated to providing quality securities representation and personalized attention.

Contact Our Illinois Regulation Best Interest Securities Law Office Today

Call (312) 462-4176 or (800) 259-9010 or contact us here to ask for your free case consultation.

141 W Jackson Blvd #3550A
Chicago, IL 60604