San Diego Regulation Best Interest Securities Law Firm

The San Diego Securities Law Firm of Shepherd Smith Edwards and Kantas helps Southern California investors recover financial losses caused by brokerage firms violating the SEC’s Regulation Best Interest (Reg BI). Backed by over 35 years of experience, the legal team guides clients through the FINRA arbitration process to hold negligent financial advisors liable and maximize potential recoveries.

The Shepherd Smith Edward and Kantas San Diego Securities Law Firm Represents Investors Throughout Southern California

If you are an investor who has sustained losses you believe may have been caused because your financial advisor did not take your best interests into account, our San Diego, Regulation Best Interest recovery law firm of Shepherd Smith Edwards and Kantas (investorlawyers.com) can help. We have been fighting for investors in Southern California for more than 35 years.

What Does It Mean To Suffer Losses Because of Regulation Best Interest Violations?

Since June 30, 2020, the US Securities and Exchange Commission’s (SEC) Regulation Best Interest (Reg BI) has required brokerage firms to always act in the best interest of retail customers, as well as wealthy individual investors, whenever making any type of investment recommendation. A broker-dealer and its registered representatives should never place their best interests over the best interests their customers.

As a matter of fact, Reg BI has certain obligations that brokerage firms and their financial advisors must fulfill:

• Disclosure: Offering full, written, and fair disclosure for any investment recommendation they make, including all material facts, risks, any conflicts of interest, and more.
• Care: Making sure reasonable diligence and care is employed when assessing whether a recommendation is in the customer’s best interests, including whether it is appropriate given their investment profile, and won’t overconcentrate their account.
• Compliance: Ensuring that there are the proper written policies and procedures in place and enforced so that the brokerage firm and its registered representatives can comply with Regulation Best Interest.
• Conflicts of Interest: Disclosing, mitigating, and eliminating any conflicts of interest.
• Recordkeeping:  Keeping thorough and full documentation of what the investment recommendation was and why it was made.

Examples of when an investor may be the victim of Reg BI by their broker:

• Your financial advisor recommended an investment product that was too risky for you, given your age and risk tolerance level.
• The brokerage firm handling your account applied a risky trading strategy that required you to borrow on margin, even though that approach is not in line with your investment goals.
• Your broker excessively traded in your account for the purposes of earning higher commissions and not because this was what you wanted or needed.
• Unnecessary mutual fund switching, which caused you to incur excess fees that took a bite out of your savings.
• You were the victim of broker fraud.
• Due diligence failures by your financial advisor caused your money to become involved in some type of Ponzi scam, which led to serious losses.

Why It Is Important To Explore Your Legal Options With a Knowledgeable San Diego, CA Regulation Best Interest Violations Law Firm

SEC Regulation Best Interest violations are a type of broker misconduct that happens more often than you think. Fortunately, there is a way to hold your financial advisor liable for your losses.

More and more, investors are filing Reg BI recovery claims against their financial advisor in FINRA arbitration. This is where disputes between retail investors and brokerage firms are made if a predispute arbitration clause was signed.

Any award granted by a FINRA arbitration panel is considered final, which is one more reason to hire a trusted securities law firm to represent you from the start. You want to maximize your chances for a full financial recovery.

It is important that you speak with one of our seasoned San Diego Securities Law Firm today. Shepherd Smith Edwards and Kantas can help you explore your legal options and assess the cause of your investment losses.

I Filed A Reg BI Loss Case in FINRA Arbitration. What Kind of Financial Recovery Might I Receive If I Win?

• Damages sustained from the Reg BI violations.
• Damages for other broker misconduct or negligence.
• Disgorgement of ill-gotten gains, including excessive commissions and fees.
• Punitive damage if egregious conduct was involved.
• Payment of your legal fees.
• And more.

Schedule Your Free Case Assessment With Our San Diego Securities Law Firm

Shepherd Smith Edwards and Kantas has recovered many millions of dollars for thousands of investors. We have the knowledge and skills to advocate for your best interests while protecting your legal rights.

(619) 550-4847 or (800) 259-9010 or fill out this contact us page today.

Our San Diego Securities Law Firm Office

4747 Morena Blvd #358
San Diego, CA 92117