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Zamansky LLC Files $750,000 Investment Fraud Arbitration Claim against RBC Capital Markets for a 78 Year-Old Investor

December 21, 2022 Alternative Investment Lawyer

On behalf of a 78 year-old retiree, we filed a FINRA arbitration investment fraud claim to recover $750,000 in losses against RBC Capital Markets LLC (RBC). The investment fraud claim alleges that, in early 2022, a conservative investor’s accounts were re-allocated by RBC aggressively into managed stocks and corporate bonds accounts. These managed stock and corporate bonds were not conservative, but were very aggressive and carried too much risk for an elderly retiree, the claim alleges.

The investment fraud claim alleges RBC breached its fiduciary duty, engaged in negligence and violated its duty under SEC Regulation Best Interests (Regulation BI). Under SEC Regulation BI, a broker-dealer can only recommend financial products to their customers that are in their customers’ best interests, and must clearly identify both the material risks and any potential conflicts of interest and financial incentives the broker-dealer has for the sale of those products.

If you have investment fraud losses, please call investment fraud attorney Jake Zamansky at (212) 742-1414 or email jake@zamansky.com for a free evaluation of your potential legal rights.

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