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NASD Arbitrators Award Investor Commissions and Attorneys' Fees Even Though Account Profitable
An NASD arbitration panel awarded an investor commissions paid her brokerage firm as well as attorneys' fees, despite the fact that the account realized a substantial profit.
The investor's account allegedly was churned but had a return of more than 30% in less than one year. Evidence was presented showing that the account would have been as or more profitable without the excessive trading.
James Eccleston, principal of Eccleston & Associates, PC, which sponsors FinancialCounsel.com, represented the investor.
Source: Chicago Tribune, June 16, 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.
20 North Wacker Drive, Suite 2900, Chicago, Illinois 60606
Telephone: 312-621-4400 | Fax: 312-621-0268
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