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CUSTOMER CLAIMS THE IR PERSUADED HER TO
PURCHASE A STOCK BY STATING IF THE STOCK STARTED FALLING IN
VALUE HE WOULD CALL HER AND TAKE HER OUT OF THE STOCK BEFORE
SHE LOST ANY MONEY. CLAIMED IR ASSURED HER SHE WOULD NOT LOSE
ANY MONEY. THE STOCK HAS DROPPED IN VALUE AND THE CUSTOMER IS
REQUESTING HER MONEY BACK PLUS INTEREST. (NO DAMAGES SPECIFIED)
Broker Comment
IR CLAIMS HE DID NOT THE CUSTOMER HE WOULD
QUICKLY SELL THE POSITION IF THE STOCK DROPPED IN VALUE. THE
STOCK WAS NOT UNSUITABLE GIVEN THE CUSTOER'S PORTFOLIO AND
INVESTMENT OBJECTIVE. CLAIM DENIED.
Not Provided
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
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Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.