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Sales Practice Complaints Against Brokers Increase
Fueled in part by falling prices of technology stocks, complaints against brokers and brokerage firms have risen. Complaints that recommendations were unsuitable now are the fifth most popular complaint with the SEC. In the first quarter, the SEC saw a 58% increase in such complaints compared to the same quarter last year.
Securities lawyer James Eccleston (principal of the law firm sponsoring FinancialCounsel.com) was quoted as seeing "too much technology, no diversification and too much margin".
Sources: Wall Street Journal, April 26, 2001
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Sponsored by James J. Eccleston, an attorney representing stockbrokers, financial planners and
investors nationwide in arbitration, litigation and regulatory matters, and a shareholder with the law firm
Shaheen, Novoselsky, Staat, Filipowski & Eccleston
P.C.(www.snsfe-law.com). This Web site contains material
of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment advisor when building and protecting your wealth.
All content Copyright © 2008 Advocate Capital Management, Inc. except where noted. All rights reserved.
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