{"id":11500,"date":"2024-09-04T11:00:24","date_gmt":"2024-09-04T15:00:24","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=11500"},"modified":"2024-09-04T11:00:24","modified_gmt":"2024-09-04T15:00:24","slug":"stockbrokers-cant-trade-in-dead-clients-accounts","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/stockbrokers-cant-trade-in-dead-clients-accounts\/","title":{"rendered":"Stockbrokers Can\u2019t Trade in Dead Clients Accounts"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-11502 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2024\/09\/Luis-E.-Nin.png\" alt=\"Silver Law Group founder Scott Silver weighed in on the recent suspension of broke Luis E. Nin (CRD#\u202f4372587) after he was discovered trading in a deceased client\u2019s account.\u00a0\n\nIn the article for Advisor Hub, Mr. Silver said, \u201cThis broker\u2019s conduct violates the most fundamental foundational requirement that a broker owes a client\u2014don\u2019t buy a stock that the client has not authorized.\u201d\u00a0\n\nWhile registered with UBS Financial Services (CRD# 8174) of Newport Beach, CA, Lin was notified that the authorized person for a trust had died. Lin was the registered representative for this trust.\u00a0\n\nAfter learning of the person\u2019s death, Lin placed ten trades in this trust account between June 29, 2022, and July 6, 2022. Although Lin spoke with a relative of the deceased about the trading, that relative did not have trading authority for the account. Later Lin wrongly told the firm that the customer had spoken to and received prior authorization from the now-deceased client. All customer-provided authorizations expire when the customer dies.\u00a0\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2024\/09\/Luis-E.-Nin.png 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2024\/09\/Luis-E.-Nin-180x120.png 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Silver Law Group founder Scott Silver weighed in on the recent suspension of broke Luis E. Nin (CRD#\u202f<a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/4372587\" target=\"_blank\">4372587<\/a>) after he was discovered trading in a deceased client\u2019s account.<\/p>\n<p><a href=\"https:\/\/www.advisorhub.com\/ex-ubs-broker-fined-suspended-for-trading-in-deceased-clients-account\/\" target=\"_blank\">In the article for Advisor Hub<\/a>, Mr. Silver said, <em>\u201cThis broker\u2019s conduct violates the most fundamental foundational requirement that a broker owes a client\u2014don\u2019t buy a stock that the client has not authorized.\u201d<\/em>\u00a0  <a href=\"https:\/\/www.silverlaw.com\/blog\/stockbrokers-cant-trade-in-dead-clients-accounts\/#more-11500\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Silver Law Group founder Scott Silver weighed in on the recent suspension of broke Luis E. Nin (CRD#\u202f4372587) after he was discovered trading in a deceased client\u2019s account. In the article for Advisor Hub, Mr. Silver said, \u201cThis broker\u2019s conduct violates the most fundamental foundational requirement that a broker owes a client\u2014don\u2019t buy a stock [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[580],"tags":[],"class_list":["post-11500","post","type-post","status-publish","format-standard","hentry","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stockbrokers Can\u2019t Trade in Dead Clients Accounts &#8212; Securities Arbitration Lawyers Blog<\/title>\n<meta name=\"description\" content=\"Silver Law Group&#039;s Scott Silver weighed in on the suspension of broker Luis E. Nin after he was found trading in a deceased client\u2019s account.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/stockbrokers-cant-trade-in-dead-clients-accounts\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Stockbrokers Can\u2019t Trade in Dead Clients Accounts &#8212; Securities Arbitration Lawyers Blog\" \/>\n<meta name=\"twitter:description\" content=\"Silver Law Group&#039;s Scott Silver weighed in on the suspension of broker Luis E. Nin after he was found trading in a deceased client\u2019s account.\u00a0\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2024\/09\/Luis-E.-Nin.png\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Stockbrokers Can\u2019t Trade in Dead Clients Accounts &#8212; Securities Arbitration Lawyers Blog","description":"Silver Law Group's Scott Silver weighed in on the suspension of broker Luis E. 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