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Margin Abuse Claims On The Rise At The NASD
Investors who borrowed money to purchase stocks and received margin calls are complaining, in record numbers, at the National Association of Securities Dealers (NASD).
This year, just through August, investors had filed 152 margin related arbitration claims. That number is well above the 44 total claims in 1998 and the 117 total claims in 1999.
While margin related claims still only account for 4% of total NASD arbitration claims (other categories include unsuitability, misrepresentation, excessive trading and unauthorized trading, for example), the increase in margin cases "is clearly a trend", according to NASD Dispute Resolution president, Linda Fienberg.
Source: Wall Street Journal, September 6, 2000
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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
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P.C.(www.snsfe-law.com). This Web site contains material
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