Brokerage Firms Must Continually Strive To Protect The Interests Of Their Customers By Exercising Diligence In Connection With The Supervision And Oversight Of Outside Business Activities And Private Securities Transactions.
Securities brokerage firms have an obligation to safeguard the interests of their customers. To accomplish that objective, those firms must diligently discharge their ongoing responsibility to closely supervise the activities of the stock brokers they employ. Along those lines, brokerage firms must, among other things, carefully inspect and analyze the incoming and outgoing letters, e-mails, and facsimiles of their investment advisers. While carrying out those essential functions, brokerage firms must be on the lookout for “red flags,” which are commonly thought of as “indications of irregularities.” Further, they must remember that from a historical perspective, stock brokers have repeatedly utilized outside business activities so as to hide private securities transactions, wherein they sell securities while “moonlighting” – and thus expose employers to massive liability.
Given the depth and breadth of the supervisory responsibilities they shoulder, brokerage firms essentially control the activities of the stockbrokers working on their behalf. Viewed in that light, it can scarcely be viewed as a surprise that a brokerage firm would be held accountable under a “control person” liability statute that has been crafted with an eye toward achieving investor protection. At the same time, it must be understood that control person liability provisions do not stand alone. When a financial consultant makes fraudulent statements in connection with outside business activities – or while engaging in private securities transactions (commonly referred to as “selling away”), the firm with which he or she is associated may also be held liable based on principles of vicarious liability, respondent superior, and agency law.
If you have suffered financial harm based on the deceptive and dishonest actions of a stockbroker, it may be in your interest to contact a seasoned investment fraud lawyer. Framed in diplomatic terms, general practitioners who possess little knowledge of the rules and regulations governing the securities industry should generally be avoided. Reach out to an accomplished, highly respected securities litigation attorney who has developed a record of success while pursuing securities fraud cases within the courts, as well as the securities arbitration context. Give Chris Bebel a call. Numerous securities lawyers situated throughout the country have enlisted his assistance in connection with an effort to construct stronger, more resilient securities fraud cases. In sum, he knows the “ins and outs” of the securities industry. His knowledge, skill, and experience speaks for itself. Time after time, Mr. Bebel has called upon the trial skills he developed while serving as a federal prosecutor – and combined them with his intricate understanding of securities industry standards and customs so as to deliver devastating cross-examinations of securities fraud defendants. Not surprisingly, he has likewise utilized those same qualities to eviscerate the credibility of expert witnesses who have been retained by those facing securities fraud allegations.
If you are in search of a successful Texas investors lawyer who champions the rights of those who have fallen victim to financial adviser fraud in Texas, tell Mr. Bebel about the facts and circumstances of your case. Before taking that step, however, it is important to understand that Mr. Bebel may decline to represent you. Over the years, he has declined numerous cases for a variety of reasons.
In the event you feel depressed and disillusioned by momentous financial losses stemming from financial adviser fraud, don’t lose heart. Keep your chin up. After all, state and federal securities laws are designed to provide for investor protection. To learn more about your rights, speak with Chris Bebel, a highly regarded investment fraud attorney who has helped numerous Texas investors. Tobe sure, Mr. Bebel does not confine his practice to securities fraud in Texas. He has successfully represented numerous victims of stock broker fraud residing from coast-to-coast. So, if you sense that your stock market losses require the services of a skilful securities law attorney, call Mr. Bebel and tell him about your case. There is no charge for an initial consultation. In other words, it will not cost you a dime to discuss the underlying facts and circumstances with Mr. Bebel. Moreover, if he cannot help you, he may be able to steer you to a securities law firm which possesses the attributes your case requires.
