An arbitration panel in Columbus, Ohio, of the Financial Regulatory Authority (FINRA) ruled in November 2012, that J.J.B. Hilliard, W.L. Lyons LLC (Hilliard) must pay an investor over $184,000 in losses and attorneys fees & costs. In addition, the panel ruled that Hilliard was also liable for FINRA hearing session fees of $9,000.
The customer in this case claimed that the investment strategy employed by Hilliard was unsuitable and out of line for her investment objectives.
Stock brokers have a duty to make suitable recommendations to investors, after taking into account the age, health, level of financial sophistication and liquid net worth of the individual.
If you have suffered losses in your brokerage account you may be able to recover some or all of those losses through FINRA arbitration, a process that is much more expeditious and less costly than court litigation.
Please do not hesitate to contact us if you have questions about the way your brokerage account has been handled. We have been helping investors recover stock market losses for 25 years.
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