Unauthorized trading occurs when your broker buys or sells securities without your express permission. As such, if your broker has made a purchase or sale of securities that you did not okay, you may have an unauthorized trading claim. The best way to determine if you have cause to take legal action is through a one-on-one consultation with the stock fraud attorneys at Colling Gilbert Wright & Carter. Please call us at (855) 456-0066 to schedule your free consultation and learn more about your rights.
There are two cases in which a broker can buy or sell your securities without first obtaining your permission:
- Discretionary Trading Authority – if you have given your broker limited power of attorney, he or she can make trades on your behalf
- Margin accounts – because you only own a portion of a margin account, your broker can make trades deemed in the best interest of both you and the firm he or she represents
It is important to remember that even in cases where you have a margin account or have given your broker power of attorney, your rights may have been violated by trades not discussed. If you feel you have lost money due to unauthorized trading or you feel as if your broker is not working in your best interest, please contact Colling Gilbert Wright & Carter to schedule a free consultation and learn more about your rights. Based in Orlando, our broker fraud attorneys accept cases from clients throughout the United States.