Replies to post #256615 on CMKM Diamonds Inc. (fka CMKX)

[pontalba]

iq0-brokers are responsible for introducing your order to the market. that's it.

[Iggy_Bot]

DD from nufced'..... Liability of Stock Brokers and their Supervisors
Stock brokers are usually held liable for investor losses under five legal theories:

Misrepresentation in connection with the purchase or sale of a security;

Selling an unregistered security;

Churning the investor's account;

Advising the investor to buy stocks that are not suitable for the investor; and

Breaching the fiduciary duty owed to the investor.

Since stock brokers often do not have the resources to reimburse the investor, it is usually important to find the broker's employer or supervisor also liable to the investor. This is called "secondary liability" and is predicated primarily on the failure of the broker-dealer to supervise the stock broker.

http://fraudlaw.org.bcentralhost.com/Definitions%20and%20concepts/Law%20by%20Topic/Securities/Fraud%20on%20Investors/Stock%20Brokers/broker_liability.htm

[janice shell]

Sorry to say this but brokers are responsible to ensure that all the shares purchased are not NSS. Do you disagree ?

Of course I do. Brokers are just that: middlemen. They're not responsible for very much. If you doubt that, read the contract you signed when you opened your account.