Edward Jones
Unauthorized Trade
- 07-22-2010
- 394
The broker, Ed Sernoski, did purchase in one of my accounts, 400 shares of BP without discussion or authorization on May 27, 2010. When I complained, I was stalled off by their compliance department and told to complain to IIROC, which is another delaying tactic. Apparently, IIROC will not order restitution.
I have subsequently filed a small claims action for my losses of about $9, 000. Edward Jones lawyers actually filed a statement of Defence which basically states that I am only complaining because the investment has fallen in value.
In 40 years of investing, nothing like this has ever happened to me before. Needless to say, I removed the account. These guys are major bad news. I only hope I get my money out of them before they crash and burn.
Company: Edward Jones
Country: Canada
Province: British Columbia
City: Vancouver
Site: www.equustek.com