TD Ameritrade steered a disabled couple looking for a managed account to chat rooms where they lost about half a million dollars, according to the clients’ FINRA arbitration filing.
Kevin and Natalie Flynn accused TD Ameritrade of violating FINRA’s “know your customer” rules, as well as unsuitable investments and a failure to supervise — two of the most frequent client claims. Their case sheds new light, however, on the practices of online investment chat rooms.
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