Unapproved Securities

Private Security Transactions or Selling Away - How to Protect Your Hard Earned Money:

Even if you are investing with a registered broker that you have known for years, make sure that your investments are approved for sale through the broker's firm.  Ask your broker for an explanation and follow up with the firm's compliance department if you encounter any of these potential red flags:

• Your broker asks you to make out a check, or to wire money, to any person or to a different firm;

• Your broker tries to sell you an investment without any paperwork about the investment;

• Investments or deposits you made through your broker do not appear on your account statement from the firm; or

• You receive an account statement that does not appear to be from the firm.

Use caution if your broker asks you to sign a letter that you consent to an investment that is not purchased through the firm. If you believe a broker is offering investments that may not be approved for sale through the firm, or to report other problems with a broker, submit a complaint to the firm. Anytime you invest through a broker, confirm that the broker is registered and look out for signs that may indicate your investments are not being made through the broker's firm.

By way of example, consider the following example.  You, as the client, has an account with a brokerage firm which contains either cash or various investments.  Your account executive calls and tells you that he has an unbelievable investment opportunity for you.  However, instead of purchasing the investment in your account at the firm, the account executive liquidates all or some of the investments in your account and has the check mailed to you.  Then once you get the check, the account executive asks you to issue another check made payable to either the account executive or another firm.  In such a case, the probability is that you are kissing your money good by.

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With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.