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Sagepoint Financial Hit With Arbitration Award for Allowing Husband to Trade Wife’s Account

Sagepoint Financial Hit With Arbitration Award for Allowing Husband to Trade Wife’s Account

Sagepoint Financial Hit With Arbitration Award for Allowing Husband to Trade Wife’s Account 150 150 Rex Securities Law

March 3, 2016- Des Moines, Iowa

A Financial Industry Regulatory Authority (FINRA) arbitration panel ordered Sagepoint Financial to pay $57,500 to a wife who brought the action against Sagepoint alleging that they allowed her husband, who was an employee of Sagepoint, to trade her account without her authorization.  The panel also awarded interests and costs. FINRA Case# 15-473.

Brokers have a duty to only follow the orders of those who you have authorized in writing to control your brokerage account.

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