Each state has its own securities laws. The following are selected sections of the Michigan securities laws that are generally applicable in FINRA arbitrations.
451.2413 Broker-dealer acting as finder; prohibited conduct.
(f) Locate, introduce, or refer persons that the broker-dealer knows, or after a reasonable inquiry should know, are not suitable investors by reason of their financial condition, age, experience, or need to diversify investments.
If you have questions about a state securities law, The White Law Group may be able to help. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.
For more information on The White Law Group, please visit our website at https://whitesecuritieslaw.com.Tags: 451.2413, Boca Raton, broker dealer, broker fraud, Chicago, excessive trading, FINRA, Florida, Illinois, investment losses, investor protection, Michigan Securities Laws, NASD, SEC, Securities Attorney, securities compliance, securities regulation, stockbroker, suitability Last modified: June 1, 2023