Unauthorized TradingIn most cases, unless an investor has granted a broker written authorization to make transactions on his or her behalf without prior approval, the broker must obtain permission from the investor prior to executing any orders. A broker who buys or sells securities in an investor's account without the prior consent of the investor has engaged in unauthorized trading unless the broker has "discretionary trading authority" through a written power of attorney.
Even in cases where an investor has granted a broker written authorization to make transactions on the investor's behalf at the discretion of the broker, the broker cannot misuse or exceed that authority by making commissions on unsuitable trades or trades the broker was not authorized to make. To do either is a violation of the broker's duty to the investor and subjects the broker to liability for unauthorized trading.
With over fifty years of combined legal experience, and having successfully represented over 800 individual and institutional investors, the securities arbitration lawyers at Meyer Wilson have the expertise, experience and resources necessary to review, investigate and aggressively pursue your unauthorized trading claim.
We have won hundreds of millions of dollars in losses for clients nationwide, including in cities such as Los Angeles, Dallas and Tampa. For assistance with your unauthorized trading claim, call us toll-free at 1.866.827.6537 or complete our online form for a free case evaluation.