Parking and Steering Scheme Whistleblower Lawyer

If you have information regarding prearranged trading or conflicts of interest within the securities markets, consult a parking and steering scheme whistleblower attorney for help reporting your tip.

Investment fraud and other securities violations happen far more frequently than you might think. Whether you are a colleague of someone who has been engaging in fraudulent activities, or you are an investor who has reason to believe your stockbroker or investment planning firm has wronged you, your parking and steering scheme whistleblower lawyer can assist you in blowing the whistle.

At Meissner Associates, we have zero tolerance for scheming financial advisors, brokers and brokerage firms. When they defraud innocent people, we’re here to ensure they are brought to justice. The information you have could be critical to the success of an investigation by the U.S. Securities and Exchange Commission (SEC), which may make you eligible for a substantial award.

What Are Parking and Steering Schemes?

Parking and steering are two separate types of fraud that often occur concurrently. Parking occurs when a stockbroker pre-arranges a trade in the hopes of benefiting one account while resulting in a loss to another investor’s account.

Conversely, steering is the practice where a financial advisor makes investment recommendations that will generate higher fees for the investor for their own financial gain or that of their investment firm. In steering schemes, the investment advisor fails to disclose this obvious conflict of interest when making such investment suggestions.

In fact, in 2016, three AIG advisors were ordered to pay a settlement of more than $9.5 million for steering clients toward investments that unnecessarily charged the investor but brought in up to $2 million for the advisors.

How to Win a Whistleblower Award

Becoming a whistleblower isn’t without risk. If you work at a corporation that requires its financial advisors to engage in parking and steering schemes, or if you simply become aware that someone you know is defrauding their investors in this way, you could be at risk for retaliation.

For these reasons, the SEC encourages individuals such as you to take a stand and blow the whistle on these types of securities violations. If you meet the qualifying criteria, and are able to provide valuable internal documents, financial statements, and other supporting records, you’ll increase your chances of coming away with up to 30 percent of the monetary sanctions the SEC is able to recover.

Reach out to a Parking and Steering Scheme Whistleblower Attorney

Parking and steering fraud can be difficult to recognize until the scheme falls apart and investors suffer significant losses. But, with your tip and the assistance of your highly trained parking and steering scheme whistleblower lawyer at Meissner Associates, you’ll play an integral part in helping the SEC impose sanctions against the fraudsters in question. You may even win a whistleblower award for your efforts to do the right thing.

If you are interested in retaining legal representation as you prepare to blow the whistle, you can fill out the secure contact form below or call our office at 1-866-764-3100 to schedule your confidential tip review.