Florida Regulation Best Interest Attorneys

Shepherd Smith Edwards and Kantas represent Florida investors in pursuing financial recovery for SEC Regulation Best Interest violations, which occur when brokers prioritize their own financial gains over a client’s needs. From their Tampa office, these seasoned attorneys help both retail and accredited investors navigate FINRA arbitration to secure damages for misconduct such as unsuitability, churning, and overconcentration.

Shepherd Smith Edwards and Kantas (investorlawyers.com) represents Florida investors whose stockbroker did not prioritize their best interests when managing their investments. From our Tampa Reg BI securities law office, we work with investors throughout The Sunshine State in pursuing damages from broker-dealers.

What Is SEC Regulation BI?

SEC Regulation Best Interest (SEC Reg BI) violations can lead to significant portfolio losses. Set up under the Securities and Exchange Act of 1934, SEC Reg BI put into place a “best interest” standard for brokerage firms and associated persons. They must ensure that any recommendation they make to a retail customer is not only suitable but also in their best interests.

Brokerage firms are not allowed to place their own financial interests over those of their clients.

Our Florida Regulation Best Interest attorneys are seasoned securities attorneys. We know how to determine whether you have grounds for an investor lawsuit for this type of violation, which is also considered broker misconduct.

What Are the Main Obligations Brokers Have Under Reg BI?

Disclosure: Brokers have to provide full and fair disclosure of all material facts in writing, including any fees and conflicts, to the retail customers.
Care: Reasonable care, skill, and due diligence must be used by the broker recommending a transaction or a series of transactions to a retail customer. This includes understanding any rewards or costs, as well as ensuring the recommendation is suitable for the client.
Dealing with Conflicts of Interest: Brokerage firms are required to disclose any conflicts of interest, get rid of them when possible, or, if not, then mitigate and monitor them.
Compliance: Broker-dealers must establish and enforce procedures and policies to ensure compliance with this SEC regulation.

At Shepherd Smith Edwards and Kantas, our Tampa SEC Regulation BI attorneys have years of experience pursuing and recovering damages from brokers and their firms that violated this rule.

Why Do Brokers Ignore Customers’ Best Interests?

Financial motivation. Unsuitably recommending too risky products that are not in line with a client’s best interests will often lead to brokers earning higher fees and commissions.
Negligence. Broker carelessness happens a lot—whether due to inexperience, a lack of care, poor training, or mistakes.
Failure to supervise. Brokerage firms don’t have proper supervisory systems in place to ensure compliance with Reg BI.
Broker fraud.

I’m An Accredited Investor. Does Reg BI Protect Me?

Yes. If you are a person whose broker recommended a securities, trade, or household strategy for yourself, then Regulation BI protects you.

Accredited investors are individual investors who meet high net-worth or income thresholds that allow them to access private, riskier investments.
Retail investors are individual, non-professional investors who don’t meet any income/net worth requirements.

Many of our securities lawyers are former brokers who quit because we saw how many of our colleagues were ignoring their customers’ best interests long before this SEC regulation was established. It is why we founded a securities firm completely dedicated to protecting investors’ legal rights and helping them secure the damages they are owed because of broker misconduct.

Can You Sue Your Broker For Regulation Best Interest Even If They Aren’t Located in Florida?

The answer is Yes.

It is important, however, that you hire knowledgeable Tampa securities attorneys who are experienced in pursuing financial recovery for Reg Bi violations in FINRA arbitration. That is the legal forum where disputes between brokers and their customers are made.

I’m A Florida Investor. What Are Some Examples of Possible Reg BI Violations?

Unsuitable investment recommendations
Unauthorized trading
Excessive trading, also known as churning
Overconcentration

How Our Tampa Reg BI Interest Attorneys Help

Shepherd Smith Edwards and Kantas can explore your legal options and assess whether your investor losses warrant suing your broker for Regulation Best interest violations.

If we agree to work together, our securities law firm will:

Thoroughly investigate your losses and gather evidence proving your case.
Prepare and file your Statement of Claim in FINRA arbitration.
Represent you before the panel of arbitrators and handle all communications with your financial advisor.

We represent US investors against brokerage firms located all over the country. We also represent investors residing abroad, including non-US citizens, who have claims against US broker-dealers.

If we don’t secure your financial recovery, you won’t pay us any fees.

Find Out If You Have A Regulation Best Interest Lawsuit On Your Hands

(813) 560-2992 or (800) 259-9010 or fill out this contact form to schedule your free consultation.

407 N Howard Ave #201A
Tampa, FL 33606