Chris Gardner of Los Angeles, California, a financial advisor with Signature Estate Securities is the subject of an investor complaint seeking $465,000 in damages as the result of unsuitable options trading.
Industry standards that require the recommendation of investments and strategies that are appropriate for a client’s background and objectives. FINRA Rule 2111 specifically established this standard, known as suitability, stating that FINRA-associated brokers must “have a reasonable basis to believe that a recommended transaction or investment strategy” is appropriate for an investor’s profile, which encompasses their financial situation, risk tolerance, investment goals, and other factors. An investment in a high-risk, illiquid real estate investment trust, for example, might be considered unsuitable for an investor with a low risk tolerance and conservative objectives. Brokers who recommend unsuitable investments can be held liable in the event of losses.
The Guiliano Law Group, P.C.
For more than thirty years, our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or a confidential evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
If you believe that you have been the victim of misconduct or fraud, contact us for a free consultation. We handle all cases on a contingency fee basis meaning that there is no cost or obligation, unless we are able to make a recovery for you.
