All in a Day’s Work
All in a Day’s Work05.12.2014
Are you a Registered Rep who employs an assistant? If so,
continue reading to find out how checking your assistant’s work can sometimes
make the difference in avoiding large E&O claim costs.
Claim Scenario: The client instructed his broker to buy 15 units of a bond within her brokerage account. The registered representative’s assistant entered the trade amount in the trade system incorrectly which resulted in the purchase of 380 units. As a result, the trade had to be corrected 3 days later which resulted in a market loss for the client.