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CLAIMS AGAINST SECURITIES BROKERS AND INVESTMENT ADVISERS  |
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A customer does not ordinarily have a right of action for violation of the NASD or NYSE rules, but they may be used as evidence of the standard of care which brokers should achieve and these rules are admissible on the issue of what fiduciary duties are owed by a broker to an investor. In some cases they have been held to confer a private right of action, such as in cases of violation of the NYSE "know your customer rule", Rule 405.
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Donald M.
Thompson * 55 W. Monroe #3950; Chicago, IL 60603 |
