Have you lost money due to the actions of a New York financial advisor or stockbroker? Are you a New York resident who has been harmed by your securities brokerage firm? While Wall Street may have its roots in New York City, investors in New York still have options if they have been swindled or even given negligent investment recommendations.
We have previously represented a number of New York investors who lost money in bad investments or because of fraudulent conduct of a broker, including investors from New York City who lost money in the Oppenheimer Champion Income Fund; an investor in upstate New York who lost money in ETFs through an investment adviser; investors who lost money in the Charles Schwab YieldPlus Fund; and many others.
New York residents are protected by the provision of the Martin Act, which protects investors from wrongful conduct by stockbrokers and financial advisors. However, the Martin Act does not have a private right of action for investors. Investors must sue for common law claims, such as negligence, breach of fiduciary duty, and fraud.
The Martin Act helps the New York regulators police the securities industry. New York’s primary state regulator is the Investor Protection Bureau, which functions under the New York Attorney General’s office. The Bureau’s job is primarily to punish (criminally or civilly) those in the securities industry who have violated the securities rules and regulations.
If your financial advisor makes misrepresentations to you when selling securities, he or she may be liable for your losses. In addition, the brokerage firm that your advisor works for may also be liable.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Ann Arbor, Michigan; and the Seattle area. We represent investors in FINRA arbitration and securities arbitration proceedings in all 50 states, including investors throughout New York, and in New York City, White Plains, Yonkers, Buffalo, Rochester, Syracuse, Schenectady, Mount Vernon, Utica, Troy, Niagara Falls, and others. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: New York Martin Act
IF YOU ARE A RESIDENT OF NEW YORK AND HAVE LOST MONEY WITH YOUR FINANCIAL ADVISOR OR INVESTMENT ADVISOR, PLEASE CONTACT ISRAELS & NEUMAN AT (720) 599-3505 FOR A FREE EVALUATION OF YOUR CASE.
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