Broker-dealers and connected persons have three main suitability obligations. First, the reasonable-basis obligations requires that there be a reasonable basis to believe, based on reasonable
diligence, that the recommendation is suitable for at least some investors. Second, the customer-specific obligation requires that there be a reasonable basis to believe that the recommendation
is suitable for a particular customer based on that customer’s investment profile. Finally, quantitative suitability requires that a broker-dealer or associated person who has actual or de
facto control over a customer account to have a reasonable basis for believing that a series of recommended transactions, even if suitable on their own, are not excessive or unsuitable for the
customer taken together.
if you have suffered losses on investments recommended to you by your broker, then Galvin Legal may be able to help youRecover Investment Lossesin a Financial
Industry Regulatory Authority (“FINRA“) arbitration claim.