Item: Shepherd Smith Edwards & Kantas, LLP
Rating: 5
Author: M.B.

Is a Securities Firm Liable for the Actions of Its Brokers?

Video Summary: The securities fraud lawyer, Kirk Smith, explains how a firm will have liability for its brokers and financial advisors.

Video Transcript:

Absolutely security firm is always liable for the actions of its brokers. It is a general rule, a principle we liable for the acts of its agent. In a situation with a brokerage firm and a financial advisor, he goes step further, under certain circumstances, a broker or financial advisor could give liability to his employer even if you do not have an account with the firm.

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