Select the Best Attorney for Selling Away or Real Estate Investment Fraud
In the US securities brokerage industry, ‘selling away’ is an inappropriate practice by a stockbroker or any other financial advisor. A broker is guilty of this practice if he or she sells a security that is not held or offered by a particular securities exchange with which the broker has affiliation. According to Financial Industry Regulatory Authority’s Rule no 3280 brokers must sell authorities only through the broker-dealer.
Its reason is that broker-dealers research each and every security they offer in order to ensure that it turns out to be a sound investment and is highly suitable for clients of that particular firm. In this way brokerages become able to exercise greater control over the products they offer to their clients through their representatives. They can also regularly and effectively supervise their brokers and they must do that. Because in case a broker is found involved in selling away, the whole firm is held responsible for his or her actions. That’s why it is recommended that the firms should keep a close eye at broker’s activities right from the start.
There are many other types of investments in which you may suffer from frauds and can lose money. Investors suffer from various types of investment frauds but there are a few that are the most common among investor claims. Real Estate Investment Trust (REIT), Master Limited Partnership (MLP), Options, Business Development Company (BDC), Unit Investment Trust (UIT), Reverse Convertible, Private Placement , Variable Universal Life (VUL), Variable Annuity, Conservation Easement , Tenants In Common (TIC) and Preferred Stock are few of the investments common among potential investors. But dangers of fraud always remain when you make up your mind to invest.
Perhaps the most complex of the above is the Real Estate Investment Trust. A REIT manages income-generating real estate. Capital is collected through multiple investors. Properties are purchased and profits earned. Offices, timber, vineyard, residential property, retirement property, storage, industrial area, mortgage, prison, data center, waste management, death, gas infrastructure and electricity infrastructure are particular sectors to invest in.
With investments come risks. Sometimes distributions are not fully guaranteed and are left on the behest of the Board of Directors. There is a lack of public trading that stalls liquidity. The fees are very high. Sometimes brokers who are involved in selling properties take a huge chunk of profit in the form of commissions. These trusts offer limited diversification because they are focused on the real estate.
Amidst selling away and other investment risks such as involved in the real estate trusts, you can fall a prey to investment fraud any time. If you are a victim, that’s not a problem. But if you are not consulting with a brilliant lawyer, that’s a very serious problem. A Galvin Legal Broker Fraud Attorney can help you get your money back. They know the minute details and complications involved in these types of cases. So don’t waste your precious time and money on cheap quality. Select the best in the market.