Recently there have been errors made in a brokerage account. If you have an account you can complain to the compliance officer. I think that the banks and the brokers have to have such a person.
I have just complained to the complaince officer at Merrill Lynch. They are holding some of my funds which were to be transferred. They made errors in the transfer. They owe me the money. If they do not release my money , I will then write to the attorney general's office. Every state has an attorney general, and if you have a problem, send your letter certified mail. There is no charge to get advice from the attorney general. Once they get involved these banks and brokers start to pay attention to your problem. I noticed that Merrill was just fined $10 million for unethical practices. It seems that the SEC has not really monitored its work very carefully in the past. Since the Madoff case ,I hope they have changed their approach.
Fancy Nancy says: The best person to monitor your money is YOU . Don't rely on your broker or your bank. They protect themselves, not you. If you need to complain, go to the right person in writing--- certified mail.
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