Filing A Customer Complaint
Last updated on: 9/17/97
If you believe you have been subject to unfair or improper business conduct by
your broker, you should complain to the brokerage firm promptly in writing. First
communicate your concerns to your broker, then to the manager of your broker's
office. Follow-up immediately if you do not receive a satisfactory response to your
complaint. Continued failure to receive a satisfactory response may warrant your
filing a complaint with NASD Regulation.
If you believe that you have been defrauded by a brokerage firm or one of its
brokers, NASD Regulation wants to know about it immediately. Often, violations
of our rules and the federal securities laws come to light through the receipt and
investigation of customer complaints.
You have several options when filing a complaint. You can send an Internet
complaint letter using our Customer Complaint Form (see notice below) or you
can send a complaint letter to the NASD Regulation office nearest you. Also, in
situations where time is of the essence or you feel that you need immediate
contact, you may call the NASD Regulation office nearest you.
When sending a letter, please include sales confirmations, monthly statements
for the relevant time period, and all relevant correspondence with the firm. Your
complaint letter itself should contain the following information:
the name of the brokerage firm and the individuals at the firm with whom
you dealt;
the name of the security or securities that are the subject of your
complaint or a detailed description of the practice or behavior that are the
subject of your complaint;
the date or dates of the problem activity or transaction;
a detailed description of the events and circumstances surrounding the
activity that is the subject of your complaint; and,
your complete address and a phone number or numbers where you can be
reached.
The focus of the NASD Regulation's investigation is regulatory in nature. NASD
Regulation's investigations do not necessarily result in the return of customers'
money, even where formal disciplinary actions are taken and sanctions imposed.
You are encouraged to consider other avenues of redress including Arbitration
and Mediation if you are seeking to recover monies or securities.
A notice about the security of your Internet transmission to us:
Although the Internet is used by millions to communicate each day, electronic
transmissions on the Internet are not always secure. Thus, you may wish to
communicate only basic information to us using the Internet, and send any
specific confidential or sensitive information by regular mail or with a telephone
call to the NASD Regulation office nearest you.
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