Buffalo, NY Broker and Investment Fraud Law Firm
Located 16 miles from Niagara Falls and 90 miles away from Toronto, Buffalo is New York State’s second-largest city. It often serves as a gateway for travel and commerce into the Canadian border.
While some might describe Buffalo’s culture as a blend of Midwestern and Northeastern America, it also boasts a robust foodie scene with strong multicultural influences, as well as progressive music and arts communities. Buffalo is considered by some to be one of the most affordable places to live in the US. Its major sports teams are the Buffalo Bills (NFL) and the Buffalo Sabres (NHL).
At Shepherd, Smith, Edwards, and Kantas, our savvy Buffalo investment fraud attorneys represent investors throughout New York who have suffered financial losses due to the misconduct, mismanagement, or negligence of their broker-dealers or investment advisors.
We have been fighting for retail investors, institutional investors, retirees, sophisticated investors, and high net worth individual investors for 30 years. Call (716) 261-3529 and ask for your free, initial case consultation.What to Do if You Suspect That You Were the Victim of Brokerage Firm Misconduct or Negligence
Your financial advisor should be someone that you can trust with always having your best interests in mind when making any product recommendations or implementing a particular investing strategy for your portfolio.
Unfortunately, stockbroker and investment advisor fraud do happen, collectively costing investors billions of dollars each year. If you think that your financial losses could have been avoided were it not for the actions of your registered representative, you should speak with someone at our experienced Buffalo securities fraud law firm right away.Types of Securities Fraud & Brokerage Firm Misconduct
Some ways in which brokers and investment advisors can cause their customers to lose money include:
- Making unsuitable investment recommendations that are not in alignment with your financial goals, investing experience, or risk tolerance level.
- Churning, which involves making too many trades in an account so that the broker can keep earning commissions.
- Engaging in trades or buying investments without the customer’s knowledge or approval. This is a practice known as unauthorized trading.
- Overconcentrating, rather than diversifying, a brokerage account in too much of one type of investment. This may increase the risk of losses should the product fail.
- Not placing trades or other orders that the customer requested. This is called failure to execute.
- Misrepresenting or omitting material facts about an investment or trading strategy.
- Violating the terms of your agreement, which is a breach of contract.
- Negligence, which can occur due to inadequate training, inexperience, or carelessness.
Brokerage firms have a duty to oversee not just their registered representatives but also supervise what these employees are doing in their customers' accounts.
If your broker-dealer failed to identify any red flags indicating possible misconduct, didn’t have the proper supervisory procedures and protocols in place, or failed to stop any suspect activities in your investment portfolio after being notified of them, you may be able to pursue a case against the firm.Filing Your Investor Fraud Claim in FINRA Arbitration
In New York, the Investor Protection Bureau is responsible for enforcing the state’s securities laws, known as The Martin Act. However, their involvement doesn’t necessarily guarantee your financial recovery. It is important that you have your own team of securities lawyers, consultants, and others representing you on your own claim and fighting to get your money back.
When you and your broker agreed to work together, you signed a document stating that any disputes would be resolved through Financial Industry Regulatory Authority (FINRA) arbitration.
SSEK Law Firm has successfully represented thousands of investors not just in FINRA arbitration, but also in private arbitration, litigation, and mediation. The majority of our clients have recovered at least some if not all of their investment losses.Fighting for Investors in Buffalo and the Surrounding New York Areas
With over a century’s worth of collective experience in securities law, our securities fraud attorneys have successfully gone up against some of the largest financial firms in the US, most of which are based in New York. We have the knowledge and the resources that our clients need to maximize their chances of a successful case outcome.
In Erie County, Niagara County, Wyoming County, Genesee County, Chautauqua County, New York County, and all over the state, call SSEK Law Firm at (716) 261-3529 or contact us online.