{"id":9077,"date":"2020-06-01T12:14:34","date_gmt":"2020-06-01T16:14:34","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=9077"},"modified":"2020-06-22T09:54:10","modified_gmt":"2020-06-22T13:54:10","slug":"stockbrokers-should-not-borrow-money-from-customers","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/stockbrokers-should-not-borrow-money-from-customers\/","title":{"rendered":"Stockbrokers Should Not Borrow Money From Customers"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-7972 size-medium\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/04\/Money2-1-300x200.jpg\" alt=\"Stockbrokers should not borrow money from their clients. That\u2019s according to FINRA Rule 3240, which states that unless the stockbroker is an immediate family member or their firm has specific written procedures about borrowing and lending, then borrowing from a customer constitutes a violation. Silver Law Group helps investors recover money lost to stockbroker misconduct and elder financial fraud. Contact us today for a no-cost, confidential consultation at 1-800-975-4345. \u00a0 Although prohibited, stockbrokers do still borrow and misappropriate from their customers. Sometimes it is from an older client who does not understand what is happening or cannot consent, which can be considered elder financial fraud.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/04\/Money2-1.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/04\/Money2-1-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Stockbrokers should not borrow money from their clients. That\u2019s according to <a href=\"http:\/\/finra.complinet.com\/en\/display\/display_main.html?rbid=2403&amp;element_id=9055\" target=\"_blank\">FINRA Rule 3240<\/a>, which states that unless the stockbroker is an immediate family member or their firm has specific written procedures about borrowing and lending, then borrowing from a customer constitutes a violation.<\/p>\n<p><strong>Silver Law Group helps investors recover money lost to stockbroker misconduct and elder financial fraud. Contact us today for a no-cost, confidential consultation at <\/strong><strong>1-800-975-4345<\/strong>. <strong>\u00a0<\/strong><\/p>\n<p>Although <a href=\"https:\/\/www.silverlaw.com\/blog\/brokers-allowed-borrow-customers\/\" target=\"_blank\">prohibited<\/a>, stockbrokers do still borrow and misappropriate from their customers. Sometimes it is from an older client who does not understand what is happening or cannot consent, which can be considered <a href=\"https:\/\/www.silverlaw.com\/elder-financial-fraud.html\" target=\"_blank\">elder financial fraud<\/a>. <a href=\"https:\/\/www.silverlaw.com\/blog\/stockbrokers-should-not-borrow-money-from-customers\/#more-9077\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stockbrokers should not borrow money from their clients. That\u2019s according to FINRA Rule 3240, which states that unless the stockbroker is an immediate family member or their firm has specific written procedures about borrowing and lending, then borrowing from a customer constitutes a violation. Silver Law Group helps investors recover money lost to stockbroker misconduct [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[582,591,580],"tags":[],"class_list":["post-9077","post","type-post","status-publish","format-standard","hentry","category-elder-fraud","category-misappropriation","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Stockbrokers Should Not Borrow Money From Customers<\/title>\n<meta name=\"description\" content=\"Stockbrokers should not borrow money from their clients, but they do. Contact Silver Law Group at 1-800-975-4345 to discuss options for recovery.\" \/>\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-should-not-borrow-money-from-customers\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Stockbrokers Should Not Borrow Money From Customers\" \/>\n<meta name=\"twitter:description\" content=\"Stockbrokers should not borrow money from their clients, but they do. Contact Silver Law Group at 1-800-975-4345 to discuss options for recovery.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/04\/Money2-1-300x200.jpg\" \/>\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 Should Not Borrow Money From Customers","description":"Stockbrokers should not borrow money from their clients, but they do. Contact Silver Law Group at 1-800-975-4345 to discuss options for recovery.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.silverlaw.com\/blog\/stockbrokers-should-not-borrow-money-from-customers\/","twitter_card":"summary_large_image","twitter_title":"Stockbrokers Should Not Borrow Money From Customers","twitter_description":"Stockbrokers should not borrow money from their clients, but they do. Contact Silver Law Group at 1-800-975-4345 to discuss options for recovery.","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/04\/Money2-1-300x200.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/stockbrokers-should-not-borrow-money-from-customers\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/stockbrokers-should-not-borrow-money-from-customers\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"Stockbrokers Should Not Borrow Money From Customers","datePublished":"2020-06-01T16:14:34+00:00","dateModified":"2020-06-22T13:54:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/stockbrokers-should-not-borrow-money-from-customers\/"},"wordCount":675,"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/stockbrokers-should-not-borrow-money-from-customers\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/04\/Money2-1-300x200.jpg","articleSection":["Elder Fraud","Misappropriation","Stockbroker Misconduct"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/stockbrokers-should-not-borrow-money-from-customers\/","url":"https:\/\/www.silverlaw.com\/blog\/stockbrokers-should-not-borrow-money-from-customers\/","name":"Stockbrokers Should Not Borrow Money From Customers","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/stockbrokers-should-not-borrow-money-from-customers\/#primaryimage"},"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/stockbrokers-should-not-borrow-money-from-customers\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/04\/Money2-1-300x200.jpg","datePublished":"2020-06-01T16:14:34+00:00","dateModified":"2020-06-22T13:54:10+00:00","author":{"@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"description":"Stockbrokers should not borrow money from their clients, but they do. 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