STOCKBROKER PROBLEMS
Failure to Follow Instructions
Your broker is obligated to obey the instructions you provide him regarding all aspects of your investment account. If you directed your broker to buy or sell a stock or mutual fund and he failed to do so in a timely fashion, or he told you he would make the trade, but did not, he may be liable to you for not following your instructions. This is especially true if there is an increase or decrease in the price of the security you wanted to buy or sell. You may be able to recover damages for a loss resulting from his negligence.
A broker should not resist your instructions to sell a particular stock. If a broker pressures you to keep the stock in your account, the broker may be liable for any losses you suffer as a result of retaining the stock.
Similarly, a broker who resists your instructions to stop using margin in your account may also be liable for damages, particularly if your portfolio declines in value because of the margin trading. Your broker must likewise put into practice any investment of trading strategy you instruct him to implement in your account. In other words, if you instruct your broker to buy only triple-A rated municipal bonds or government bonds paying a certain interest rate, he must not disregard your directions and buy reverse convertible instead.