Have you received a margin call? If you have money that you borrowed on margin, you may be about to receive a margin call requiring you to deposit funds or have your securities liquidated to pay the debt to your brokerage firm. This call may be made, not because of anything you did, but because your portfolio has suddenly declined in value.
Why did this happen? It may have been because of the general losses in the securities market. However, it may also have happened because your portfolio was not invested conservatively enough in light of the debt you owed to the brokerage firm. You should be asking yourself whether your broker was correct in recommending that you borrow money on margin. Also ask if your portfolio was adequately diversified and primarily invested in secure conservative securities.
Under the NASD (now FINRA) conduct Rule 2310, a broker/dealer should only recommend transactions that are suitable for the customer in light of the customer's financial status, investment objectives and such other information considered to be reasonable in making recommendations to a customer. If you suspect that your broker may have breached this duty, you should contact an attorney with experience handling these types of claims.
For more information, go to www.TuckerLudin.com/securitiesclaims.html
About Me
- Eric E. Ludin
- Clearwater and Tampa, Florida, United States
- Eric E. Ludin received his Bachelor of Arts degree from Michigan State University in 1979, with honors. He received his JD from the University of Pittsburgh School of Law in 1982. Mr. Ludin's practice concentrates on immigration law, securities litigation, general and commercial litigation, commercial landlord/tenant conflicts and personal injury litigation. Mr. Ludin was President of the St. Petersburg Bar Association from 2000 - 2001. He served as President of the St. Petersburg Bar Foundation from 2004 - 2006. Mr. Ludin recently completed a term as the chair of the 6th Judicial Circuit Grievance Committee “E” of the Florida Bar. Mr. Ludin is chairman of Menorah Manor, a not for profit nursing, assisted living and rehabilitation center. He is President of the Tampa Bay Leadership Counsel of the Crohn's and Colitis Foundation and President of the CASA Foundation (Community Action Stops Abuse). He is a member of AILA, the American Immigration Lawyers Association and is committed to assisting people realize their dream of living in the United States. Mr. Ludin has an "AV" rating with Martindale-Hubbell which is the highest peer rating an attorney can be awarded.