Kentucky Regulation Best Interest Investor Law Firm

The law firm Shepherd Smith Edwards and Kantas offers legal representation for Kentucky investors seeking to recover portfolio losses caused by brokers who violated the SEC’s Regulation Best Interest standard. While investors cannot sue in civil court for these violations, the firm helps clients file for financial recovery through FINRA arbitration on a contingency basis.

Shepherd Smith Edwards and Kantas (investorlawyers.com) works with investors throughout the Bluegrass State to recoup portfolio losses from their brokerage firms, which prioritised their own interests over those of their customers. Contact our Lexington, KY, Regulation Best Interest law firm today so that we can help you explore your legal options.

What Is SEC Regulation Best Interest?

This US Securities and Exchange Commission (SEC) regulation requires that brokerage firms always act in the best interests of the retail customer when making any kind of investment-related recommendation to them. This includes not placing the firm’s financial interests over those of its clients.

SEC Regulation Best Interest (REG BI) sets up a standard of conduct that includes a number of obligations that broker-dealers must meet, including: 

Disclosure: Full and written disclosure of material facts about the parameters of this professional relationship, including any conflicts of interest, fees, and charges.

Care: Exercising reasonable care and due diligence when trying to understand a recommendation, its costs and risks, and making sure that it is in the customer’s best interest.

Conflict of Interest: Setting up and enforcing written policies and procedures to identify, disclose, reduce, or get rid of conflicts of interest that might compel a financial advisor to prioritize the firm’s best interests over those of the customer.

Compliance: Establishing and enforcing written policies and procedures to ensure compliance with SEC Regulation Best Interest.

When Can Investors in Kentucky Sue Their Brokers For Violating Reg BI?

While an investor who suffered financial harm because their broker ignored their best interests cannot sue in civil court, they may have grounds for filing a Regulation Best Interest recovery lawsuit in Financial Industry Regulatory Authority (FINRA) arbitration. This is the legal forum where disputes between brokerage firms and their customers are resolved—unless a settlement is reached first.

Kentucky investors have six years from the date of the alleged offense to file a Reg BI claim. However, it is important to note that if your financial advisor did violate your best interests, you will likely have other legal grounds for suing them, such as:

• Unsuitable recommendations of products or strategies that were too risky for you or not in line with your financial or savings goals.
• Excessive trading in your account costs you unnecessary fees while not making you more money—perhaps even causing you losses that could have been avoided.
• Misrepresentations and omissions about the risks involved; if you had been given all of the facts, you might not have agreed to invest.
• Fraudulent actions, including misappropriation, involved your financial advisor stealing money from you.
• Involving you in some type of investment scam because of due diligence failures.
• Breach of contract.
• Gross negligence.
• Supervisory failures of your broker and your account by the broker-dealer.
• And more.

Assessing whether you have been the victim of Reg BI violations and/or other broker misconduct is something that only seasoned Lexington, KY Regulation Best Interest attorneys can help you with. This is not the kind of legal claim you want to make without trusted securities representation by your side.

I’m A Kentucky investor whose broker prioritised their best interests over mine. What Kind of Financial Recovery Might Be Entitled To Receive?

Depending on the specifics of your losses and the alleged actions involved—and whether you have knowledgeable Kentucky SEC Regulation Best Interest violation attorneys representing you—as an investor you may be entitled to one or all of the following:

• Compensatory damages for actual losses you sustained
• Out-of-pocket losses, including excessive markups and fees
• What you might have otherwise earned
• Disgorgement of ill-got gains
• Legal fees
• Prejudgment interest
• Punitive damages
• And more.

How Can Shepherd Smith Edwards and Kantas Help Me Recover My Reg BI Losses?

• We are Lexington, KY securities attorneys with decades of experience representing investors and helping thousands of them to win awards and secure settlements.
• We are an established FINRA law firm that understands the arbitration forum very well, including what it takes to maximisze your chances for full financial recovery.
• Our Kentucky securities law team genuinely cares about the investors we represent, and we want to make them financially whole again.

Talk To Us If You Are An Investor in Kentucky Who Is Wondering If Your Broker Ignored Your Best Interests 

Call (866) 931-7628 or (800) 259-9010 to schedule your free, no obligation case assessment. Because we work on a contingency basis, we will only receive payment for our legal representation if we win an award or negotiate a settlement for you.

Kentucky Regulation Best Interest Investor Law Firm
216 E Reynolds Rd #C
Lexington, KY 40517