Who is eligible to pursue a securities arbitration claim?
In the state of Florida, anyone who has purchased or sold a security, or securities, that was not traded on a national securities exchange can pursue a securities arbitration claim. Additionally, claims can be made by parties that have been affected by any violation of the federal securities laws or any state’s securities laws. In order to pursue a securities arbitration claim in Florida, the person or business must have been a customer of a broker-dealer, an investment advisor, or a brokerage firm registered in the state. When dealing with a broker-dealer, the person must have provided funds, securities, or other property to the broker-dealer, and the broker-dealer must also have conducted business in Florida. Furthermore, the individual or business must have sustained damages or financial losses due to the actions of a broker-dealer, an investment advisor, or a brokerage firm. The individual or business must also show that the damages or losses were due to the broker-dealer’s or investment advisor’s negligent, reckless, or fraudulent acts or omissions. Overall, individuals or businesses that have been negatively affected by the actions of a broker-dealer, an investment advisor, or a brokerage firm in Florida are eligible to pursue a securities arbitration claim.
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