Fort Lauderdale, FL — Two Stifel Financial entities have agreed to pay more than $2 million to settle claims related to allegations that it failed to adequately supervise the sale of complex exchange traded products and that they were suitable for clients. Direxion and Proshares are two companies that create these funds for sales by brokers.
These funds are, generally, inverse leveraged funds that bet that the market for a group of indexes or stocks will fall. FINRA has warned that these funds “typically are not suitable for retail investors who plan to hold them for more than one trading session.” Due to the complexity and short term objectives of these funds, they are not generally considered suitable for most retail investors.
If your broker at Stifel or any other brokerage firm has recommended that you purchase and hold inverse and leveraged funds or recommended other “bets” against the market and you have losses in those securities or in your account in general, Mark A. Tepper P.A. can assist you in recovering those losses.
Attorney Mark A. Tepper, is experienced in recovering your investment losses from inverse leveraged funds or any other unsuitable recommendation. We offer a no-cost initial investigation and work on a contingency fee basis if we take your case. For help, please call Mark A. Tepper at (954) 704-2310 or email askmark@marktepper.com to contact our law firm.