Springfield, Illinois | Securities Fraud Lawyer | Broker Fraud Attorney 

Concerned about your investments in Springfield, Illinois? 

Have you suffered investment losses with your Springfield, Illinois broker or financial advisor? If so, the national securities attorneys at The White Law Group may be able to help you. The firm is dedicated to helping investors across the country in arbitration claims against their brokerage firms or financial professionals. 

The White Law Group, LLC, a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm, has offices in Chicago, Illinois and Seattle, Washington. 

With offices in Chicago, Illinois, the White Law Group handles securities fraud cases throughout the state of Illinois, including reviewing securities fraud cases in Springfield, Peoria, Champaign, Decatur, Aurora, Rockford, and Naperville. (All cases in the Midwest portion of the United States are administered out of FINRA’s Chicago, Illinois Dispute Resolution office.) 

Illinois law defines securities as stocks, bonds, promissory notes and other evidences of indebtedness; shares in mutual funds; stock options; limited partnership interests; interests in oil and gas, mining, or real estate ventures or leases; certificates of deposit; some commodity contracts; and “investment contracts” — a catch-all term for certain kinds of unusual investment arrangements in which the investor is to rely on the effort of others for some essential managerial activities. 

Broker-dealers, firms which market investments to the public, are also regulated by the Financial Industry Regulatory Authority (FINRA) and the Securities Exchange Commission (SEC). 

Common Types of Investment Fraud/Broker Fraud Claims 

Churning or Excessive Trading  

If a broker is constantly buying and selling in the account, this may be evidence of churning, which means engaging in excessive trading in order to generate commissions for the broker. This practice is illegal.   

Broker Misrepresentation 

Sometimes a customer will complain that the broker said that something was a very safe investment, but the customer later discovered that in fact it was very risky. Customers rely upon the recommendations of stockbrokers, and failure to properly disclose the risk is a misrepresentation or material omission. Unfortunately, many investors do not discover the truth in such cases until after they have incurred substantial losses and then realize that the investment was not so safe in the first place. 

Unsuitable Investments 

An unsuitable investment is when an investment does not meet the objectives and means of an investor. The investment strategy may also be unsuitable. Brokers and financial advisors are required to do due diligence on an investment before recommending it to their clients. 

“Selling Away” 

Selling away is when a broker or financial advisor solicits you to purchase securities not held or offered by the brokerage firm. As a general rule, such activities are a violation of securities regulations. Typically, when a broker is “selling away,” the investments are in the form of private placements or other non-public investments, and often these are investments that the broker has some pecuniary interest in. Such an investment is generally a violation of securities rules because the brokerage firm has not researched the risks of the investment or approved the investment for sale to its clients, and the broker is selling the investment without the knowledge of his employer.
Unauthorized Trading 

Sometimes a customer may be surprised to discover certain trades made in his account which had not been previously discussed by the stockbroker. This constitutes unauthorized trading, which is prohibited.

Illinois Division of Financial Institutions  

The mission of the Illinois Department of Financial and Professional Regulation, Division of Financial Institutions (DFI), is to protect and educate the public and promote confidence in the regulated industries through administration of statutory responsibilities in an efficient, professional, responsive, and innovative manner. 

FINRA Arbitration and Mediation to Recover Investment Fraud Losses 

State regulators are often limited in how much they can help in recovery of investment losses. FINRA Dispute Resolution is an arbitration venue for investors across the country with claims against their brokerage firm or financial professional. ?It provides investors with an opportunity to attempt to recoup their investment losses without filing such claims in court.  

Prior to making recommendations to an individual investor, brokerage firms are required by the Financial Industry Regulatory Authority (FINRA) to disclose all the risks of an investment. Recommendations should only be made if the investment is suitable for an individual investor given their age, investment objections, investment experience and risk tolerance. 

Brokerage firms that do not perform adequate due diligence on an investment and/or make unsuitable recommendations can be held accountable for investment losses through FINRA arbitration    

Springfield Illinois FINRA Attorneys 

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.  

Our firm represents investors in Springfield in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.   

With over 40 years of securities law experience, including experience working at FINRA and the SEC, The White Law Group has the expertise to help Springfield investors defrauded in securities, investment and financial business transactions attempt to recover their investment losses.   

The firm reviews securities fraud cases throughout Illinois, and across the country. If you have questions about investments you made in Springfield, Illinois, the securities attorneys of The White Law Group may be able to help.  For a free consultation, call the firm’s Chicago office at 888-637-5510. 

For more information on The White Law Group, please visit our website at https://whitesecuritieslaw.com.