Self-Dealing is When Stock Brokers Take Advantage of Their Position
Self-dealing is the conduct of a broker or advisor that consists of taking advantage of his or her position in a transaction and acting for his own interests rather than for the interests of the client. A fiduciary is legally obligated to act in the best interest of their clients. If a broker or advisor breaches this obligation, the client may be able to sue for damages.
Have You Lost Money Because of Self-Dealing? Recover Your Losses!
The most common case of self-dealing occurs when a broker or advisor knowingly advises clients to purchase products which would cause them harm, but would pay the broker a generous commission. Conflict of Interests arise when Stock Brokers and/or Financial Advisers are faced with conflicting personal and professional interests.