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What Should I Do if I am Concerned about Stock Broker Fraud?

stock-broker stock broker fraud

If you are concerned about stock broker fraud, unfortunately, you are not alone. Each year, countless unsuspecting investors lose their entire life’s savings because they have put their trust in the wrong broker or investment advisor. While there are steps investors can take to help minimize their risk of investment fraud, too often, investors are left with little choice but to seek to recover their investment losses. In order to recover fraudulent investment losses, individual investors must file claims against their brokers in Financial Industry Regulatory Authority (FINRA) arbitration. If you believe that you may be a victim of stock broker fraud, these are your next steps for seeking to reestablish your investment portfolio:

  1. Find Out if Your Broker or Brokerage Firm is Registered Your broker and your brokerage firm should both be registered with FINRA. To find out if they are registered, you can conduct a search using FINRA BrokerCheck. If your broker or brokerage firm is not registered, this is a red flag for a potential investment fraud scam. If they are registered, this just means that it may be easier to pursue your claim for financial recovery.
  2. Learn More about Investment Fraud From unsuitable investments to account churning, there are numerous forms of investment fraud. To determine whether you have a claim, you will need to have an attorney assess whether your losses appear to be the result of inappropriate trading activity in your portfolio or ordinary market forces. These resources will help you understand if you may be a victim of investment fraud.
  3. Learn More about FINRA Arbitration If you are eligible to file for FINRA arbitration, it will also be important for you to familiarize yourself with the arbitration process. To learn what you can expect in FINRA arbitration, you can read: • Are You Eligible to File for FINRA Arbitration? • Unexpected Investment Losses? 6 Key Facts About Securities Arbitration • What to Expect When You File for Securities Arbitration
  4. Collect Your Investment Account Records In order to assess your claim, your attorney will need to have access to your investment account records. Depending on how long you have been with your brokerage firm and when the fraud began, you may need to download several years’ worth of statements from your online account.
  5. Schedule a Free Initial Consultation To obtain personalized legal advice, you can schedule a free consultation with a stock fraud attorney. For FINRA arbitration claims, it is not necessary to hire an attorney in your state. As a result, you can do your research online, and choose the attorney who you believe gives you the best chance to fully recover your fraudulent investment losses.

About Zamansky LLC

Zamansky LLC is a national stock fraud law firm located in the heart of Wall Street. Our attorneys have decades of experience representing individual investors, and we have recovered millions of dollars in fraudulent investment losses through FINRA arbitration. If you would like to schedule a free consultation, please call (646) 633-5628 or request an appointment online today.

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