North Carolina Securities Attorneys
The North Carolina securities attorneys at Gana Weinstein LLP are uniquely qualified to represent individuals and institutions involved in securities arbitrations within the state of North Carolina before the Financial Industry Regulatory Authority, or “FINRA.” Our North Carolina securities arbitration attorneys handle cases that include the sale of unsuitable investments, churning (which is excessive trading for the purposes of generating broker commissions), the unauthorized trades of securities, broker theft or conversion, the failure to supervise broker conduct and “selling away.” Selling away is a term used for broker’s that sell unapproved products “away” from their employer broker-dealer.
By the time investors first retain us, many of them have suffered substantial financial losses in their portfolios. Most of our clients have a hard time understanding where their investments have gone, how their broker allowed such losses to occur in the first place, and what their investments are currently worth.
North Carolina Investors in are protected by legislative laws and statutes together with industry rules that prohibit brokers from engaging in fraud, unsuitable sales, churning, unauthorized trading, failure to supervise, breach of fiduciary duty, or negligence. Below are useful links and resources covering some of the investor protections available in the State of North Carolina:
- North Carolina Securities Division is the state’s regulatory agency for securities. Investors can file a complaint with the Securities Division and gather relevant news and information related to the securities industry. According to the North Carolina Securities Attorneys, Investors lack the essential knowledge needed to reach their financial goals. Many investors are encouraged to check their broker’s registration, browse the North Carolina Securities Division’s educational videos and contact the Division or a private securities attorney with questions.
- The Consumer Protection Division is within the North Carolina Office of the Attorney General, which protects consumers and business entities from scams and fraud.
- The North Carolina Securities Act contains provisions regarding registration, advertising, and anti-fraud. North Carolina affords consumers and business entities with additional regulatory protection through the North Carolina Investment Advisers Act, North Carolina Commodities Act, and North Carolina Administrative Procedure Act. Specifically, the North Carolina Securities Act makes it unlawful to buy, sell or exchange any security by means of fraud. Specifically, brokers are not allowed to make material representations intentionally in the sale of securities that cause losses to an investor.
- FINRA oversees and regulates all broker-dealers in the United States. FINRA, in conjunction with the Securities and Exchange Commission (SEC) also creates and enforces the securities laws.
Unfortunately, state securities regulators rarely reimburse investors as a result of an enforcement action. The investor’s best chance to be compensated is by hiring an experienced securities attorney. The North Carolina securities attorneys of Gana Weinstein LLP can help clients determine if investment losses were the result of normal market forces or misconduct by Wall Street. We apply a detailed and forensic approach to understanding your investment activity to explain those losses and apply the appropriate law to advance your claims.
In many cases, broker-dealers and investment advisers simply sell novel investment products in order to garner large commissions for them regardless of the investor’s willingness to withstand the large losses. Some of our clients are sold novel and exotic investment products that are only appropriate for a small group of sophisticated investors willing to take excessive risk. In other cases, clients’ approach us with account statements containing voluminous and complex trading activity in which they are unable to determine the actual losses suffered. Many times, these indecipherable or incomprehensible account statements are set up to cover up excessive trading activity and risk.
To learn more about potential seucurities arbitration claims in North Carolina please visit our Securities Arbitration page. The North Carolina securities attorneys at Gana Weinstein LLP represents investors in FINRA arbitrations in all major North Carolina cities including Charlotte, Raleigh, Greensboro, Durham, Winston-Salem, Fayetteville, Cary, Wilmington, High Point and Greenville. Our consultations are free of charge and the firm is only compensated if you recover money.