The broker-dealer's liability for recommendations
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In today's capital markets the individual investor finds it increasingly difficult to gather, select and evaluate all the information that is required to make a reasonable investment decision. It is the broker-dealer who steps into the breach. The service he renders as a professional intermediary of informations culminates in investment recommendations. The threat of being held liable should ensure that a broker-dealer's recommendation is the result of a sound inquiry into the security and the customer's situation. This study examines the extent to which such a remedy is actually provided for under the U. S. securities laws and the so-called suitability rules of self-regulatory organizations (i. e., broker-dealer associations and stock exchanges).
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The broker-dealer's liability for recommendations, Heinz-Dieter Assmann
- Language
- Released
- 1982
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- Title
- The broker-dealer's liability for recommendations
- Language
- German
- Authors
- Heinz-Dieter Assmann
- Publisher
- Lang
- Released
- 1982
- ISBN10
- 3820471537
- ISBN13
- 9783820471533
- Series
- European university studies : Ser. 2, Law
- Category
- Social sciences
- Description
- In today's capital markets the individual investor finds it increasingly difficult to gather, select and evaluate all the information that is required to make a reasonable investment decision. It is the broker-dealer who steps into the breach. The service he renders as a professional intermediary of informations culminates in investment recommendations. The threat of being held liable should ensure that a broker-dealer's recommendation is the result of a sound inquiry into the security and the customer's situation. This study examines the extent to which such a remedy is actually provided for under the U. S. securities laws and the so-called suitability rules of self-regulatory organizations (i. e., broker-dealer associations and stock exchanges).