Legal Question in Investment Law in New York
investment
is there any type of law that states that an investment broker (working for a large firm) cannot invest a clients money into a fund that would be more risky than the client could afford? Example:an 18 yr old investing his college money and broker recommends a high risk stock fund? thanks
Asked on 8/12/07, 4:24 pm
1 Answer from Attorneys
Jenice Malecki
Malecki Law
Re: investment
yes, it would be covered under the suitability rules.
Answered on 8/12/07, 5:13 pm
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