Articles Tagged with margin trading

Chicago-based Stoltmann Law Offices has represented investors who’ve suffered losses from dealing with brokers who have failed to recognize their clients’ need for lower-risk portfolios. It’s no secret that the COVID pandemic has made the stock and bond markets more volatile. When the outbreak first hit markets, it triggered a massive sell-off in everything from blue chip stocks to municipal bonds.

Yet many broker-advisers failed to protect their clients, keeping them in high-risk portfolios that lost money. Even though they constantly make claims to the contrary, almost no advisor can time markets to fully protect investors. Few saw the pandemic coming, or the devastating impact it would have on the world economy.

After the stock market peaked on February 19, 2020, it dropped 34% in a month, hitting a bottom on March 23. But by June, the market had bounced back, surging 39%. Then, on Oct. 28, the Dow dropped more than 900 points as COVID cases again surged worldwide in a second, record-setting wave. Who could have predicted such stomach-churning volatility? Investors who were risk averse and needed to protect principal – and were overexposed to stocks – got burned the most.

AdobeStock_194438920-300x200According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Westport Capital Markets broker Emil Skyba violated securities laws. Skyba was barred from the industry because he failed to respond to an investigation against him. This results in an automatic bar. According to his online, FINRA BrokerCheck report, Emil Skyba was previously registered with Paine, Webber, Jackson & Curtis, Hornblower & Weeks, Shearson Hayden Stone, Lehman Brothers, UBS, and Westport Capital Markets in Westport, Connecticut from February 2015 until September 2017. He has four customer disputes against him and one regulatory matter. They allege unsuitable investments, unsuitable trading, excessive margin trading, misrepresentation, and other things. He is not currently registered as a broker. Please call our Chicago-based securities law firm today to find out how you may be able to sue Westport Capital Markets on a contingency fee basis for Emil Skyba losses.

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