Each state has its own securities laws. The following are selected sections of the Wisconsin securities laws that are generally applicable in FINRA arbitrations.
DFI?Sec 4.06 Prohibited conduct. (1) The following
are deemed “dishonest or unethical business practices” or “taking
unfair advantage of a customer” by a broker?dealer under s.
551.412 (4) (m), Stats., without limiting those terms to the practices
(b) Inducing trading in a customer’s account which is excessive
in size or frequency in view of the financial resources and
character of the account;
(c) 1. Recommending to a customer the purchase, sale or
exchange of any security without reasonable grounds to believe
that the recommendation is suitable for the customer on the basis
of information furnished by the customer after reasonable inquiry
concerning the customer’s investment objectives, financial situation
and needs, and any other information known by the broker?
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: 551.412, Boca Raton, broker dealer, broker fraud, Chicago, DFI?Sec 4.06, excessive trading, FINRA, Florida, Illinois, investment losses, investor protection, Kenosha, Madison, Milwaukee, NASD, Racine, SEC, Securities Attorney, securities compliance, securities regulation, stockbroker, suitability, Wisconsin securities laws Last modified: July 17, 2015