Legal Question in Banking Law in New York
garanted income multi currency insurance contract
I'm a retiree living in
California. In 2004 I
subscribed through my
bank an life insurance
contract policy invested
into a multi currency
european multual fund
where the income was
guaranteed. Three years
fater I lost two thirds of
the initial imput. I'd like
to claim for damages
form the New York bank
who made the contract
1 Answer from Attorneys
Re: garanted income multi currency insurance contract
Depending on the situation, and this would be determined by a review of the contract entered into between you and the bank and insurance company you may be able to use the courts or be required to file a complaint under FINRA, which is the securities regulator.
If the contract/policy was inappropriate due to its risks, your needs, and your expectations you may be able to sue. There are several claims that can be raised including but not limited to suitability claims.
If you wish to discuss this further, you can contact me via email or telephone. Good Luck.
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