Everyday commerce has become increasingly complex requiring consumers to "read the fine print" now more than ever. Financial services advertising, cell phone plans, cable subscriptions, internet providers, automobile leasing, mortgage refinancing [to name a few] come with dense detailed contracts. Often these contracts conflict with companies advertisements or fail to disclose material facts necessary for the consumer to make an informed decision. Many times, the product simply fails to preform according to reasonable expectations. In addition, enthusiastic salesmen often fail to disclose or misrepresent the obligations consumers bind themselves to when signing these contracts. In order to protect consumers, New York State - as well as most other states - prohibits "deceptive acts and practices" in the course of business.
Located in the heart of the financial district at 110 Wall Street, the firm is walking distance to FINRA [the combined New York Stock Exchange and NASD arbitration forums] and state and federal courts. The firm also maintains an office conveniently located in central Long Island.
While many investors suffer losses during market downturns, simply losing money does not necessarily provide the grounds for a complaint. However, certain conduct by brokers and brokerage firms - whether in violation of state and federal securities laws, the self-regulatory rules adopted by the National Association of Securities Dealers (NASD) and the New York Stock Exchange (NYSE), or a brokerage firm's internal compliance rules - often provides an investor with the basis to seek recovery. The know your customer and suitability rules of the Exchange and the NASD have been regarded as the standard to which all brokers are held.
As an example, investor related securities complaints typically include, but are not limited to:
In circumstances in which an investment firm acts as a fiduciary - for example when a broker has properly obtained written discretionary trading authorization, the brokerage firm acts as trustee for a trust account or the brokerage firm also provides investment advisory services - the firm is held to a higher standard of conduct.
In 2005, the SEC enacted a rule exempting broker-dealers from complying with the Investment Advisors Act. In 2007, The United States Court of Appeals for The District of Columbia Circuit [Financial Planning Association v. SEC, No. 04-1242, 2007 U.S. App. Lexis 7356] found the SEC had exceeded its authority and vacated the rule. Therefore, brokers who charge an asset based fee or a fixed fee also known as a commission replacement arrangement are in receipt of "special compensation", are not exempt from the Act, and are deemed investment advisers. Investment advisers are considered fiduciaries and must register and comply with the Investment Advisers Act of 1940.
With a focus on representing investors, the firm is able to give its full attention to a complex area of the law. If you feel that you may have a claim regarding investment losses, please click here for more information.
Debt collectors are regulated by the Federal Fair Debt Collection Practices Act ("FDCPA"), which prohibits them from using abusive or dishonest methods to collect debts. Regardless of whether or not a consumer actually owes an alleged debt, the debt cannot be harassed, intimidated, or lied to by a debt collector. Unfortunately, such practices are all too common. If you've received a written debt collection letter or believe that you've been victimized by a debt collector, contact this office for a free evaluation of your case.
If you use credit cards, owe money on a personal loan, or are paying on a home mortgage, you are a "debtor." If you fall behind in repaying your creditors, or an error is made on your accounts, you may be contacted by a "debt collector." Collectors are not entitled to cross the line between lawful collection practices and prohibited or illegal tactics.
You should know that in either situation, the Fair Debt Collection Practices Act requires that debt collectors treat you fairly and prohibits certain methods of debt collection.
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