If you have suffered trading losses with New York stockbroker Christopher F. Veale, call today for a FREE Consultation regarding your investment recovery options.
According to FINRA reports, Christopher Veale has been the subject of several customer complaints dating back to 2001 alleging unauthorized trades, overcharging of commissions, and excessive or unsuitable trading in his customer’s accounts. In January 2015, the State Of Rhode Island and State of Massachusetts initiated investigations of Chris Veale based on a customer complaint alleging the excessive trading in the senior investor’s accounts which resulted in the enrichment of Mr. Veale through unwarranted commissions. Following the customer’s complaint, Christopher Veale allegedly changed the method of effecting trades so that the customer’s confirmation statements did not reflect the excessive commissions charged to the customer.
Stockbrokers like Christopher Veale have a regulatory obligation to only recommend or engage in transactions that are suitable for their customers and to ensure that any recommendation to purchase investment products are suitable for the needs of each customer. Moreover, they also have an obligation not to excessively trade their customer accounts. If there is too much trading in a customer account, this excessive trading might be considered a type of stockbroker misconduct called “churning”. Churning occurs when a broker engages in excessive buying and selling in a customer’s account to generate commissions that solely benefit the broker. Frequent in-and-out purchases and sales of securities that don’t appear necessary to fulfill the customer’s investment goals may be evidence of churning.
If you are an investor who has suffered losses investing with Christopher F. Veale, you may be able to recover your losses through FINRA arbitration or securities litigation. Please call Kons Law Firm at (312) 757-2272 for a FREE, NO OBLIGATION consultation to discuss your investment loss recovery options.
Kons Law Firm represents investors nationwide in securities arbitration and litigation matters. To learn more about the Firm’s securities litigation and FINRA arbitration practice, please visit www.investmentlossattorney.com.