Brokerage Fraud: What Wall Street Doesn't Want You to Know by Tracy P. Stoneman
Tracy Pride Stoneman has co-authored a book with Douglas J. Schulz, renowned securities expert witness about the brokerage industry.
"The investing public has been bombarded with the benefits of investing, from the warm and fuzzy advertisements to the deluge of books on investing tips, how to get rich, how to day trade, and the like. Brokerage Fraud is the first book to unveil what your brokerage firm, stockbroker and financial advisor fail to tell you about their business, about your investments, and about your account. These secrets allow brokerage firms, stockbrokers and other investment advisors to defraud millions of Americans every year. Yet only a fraction of those deceived ever realize it, much less do something about it."
"The vast majority of investors do not appreciate that the securities business is the most regulated industry in the country and that there are hundreds of laws, rules, regulations and guidelines at the federal, state and industry level specifically designed to protect their rights. Brokerage Fraud simplifies the morass of regulation and exposes how many individuals and brokerage firms bend and break the rules to the detriment of investors. The book describes the top four abuses seen in brokerage accounts and how when a firm is caught with its hand in the cookie jar, it employs specialized tricks and defenses designed to immobilize the investor. The book explores the myriad of conflicts of interest that abound in the industry and how those conflicts impact investors. A special section on online trading exposes the unique conflicts within the online firms."
Drawing on their combined thirty years of experience in securities litigation and the securities industry, Douglas and Tracy share their experience in business, as well as what they have learned from the testimony of stockbrokers, brokerage firm owners, branch managers, and compliance personnel behind the closed doors of securities arbitrations. Their goal is that Brokerage Fraud will be required reading for a growing population of investors nationwide.
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