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Can I complain to any government or stock exchange or nasd officials?
Yes. If after attempting to resolve matters with the broker and brokerage firm you are not satisfied, you can complain to officials at the Securities and Exchange Commission (a Federal agency), the National Association of Securities Dealers, Inc. (a self-regulatory agency) and/or any Stock Exchange the broker belongs to or your State Securities Administrator, who is a member of the North American Securities Administrators Association, Inc., an organization whose membership consists of 65 state, provincial, and territorial securities administrators in the 50 states, the District of Columbia, Puerto Rico, Canada, and Mexico.
Experience shows that only occasionally does their intervention yield a satisfactory result. This is what usually happens.
The SEC or NASD or Exchange or State official probably will send a letter to the firm or person you have complained about, and ask them to respond to your specific complaint or question.
The broker or firm replies that they were in the right and you were wrong. (If they had concluded you were right in the first place, most reputable brokerage firms would have straightened the matter out right away when you called the matter to their attention.)
If the SEC or other inquiring body concludes it is unclear who is right and who is wrong, you will have to pursue your complaint. |
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