Customer Claims Against Brokerage Firms and Individual Brokers, Chicago Commodities Lawyer

QUESTION

What type of claims are typically brought against brokerage firms and their individual brokers?

ANSWER

The claims most commonly brought include: unauthorized trading, churning, the recommendation of unsuitable trades, fraud, and breach of fiduciary duty. Some claims may be brought under the rules of a self-regulatory organization, or a state or federal statute, including state consumer fraud statutes, the federal securities laws, or the Racketeer Influenced and Corrupt Organizations Act, or state common law.

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