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It is probably also illegal for them to compensate some customers and not others. There are FINRA regulations against that.
by hnaparst 9y ago
It is probably also illegal for them to compensate some customers and not others. There are FINRA regulations against that.
- nodesocket 9y agoIf people could get refunds in the US stock market because of flash crashes, algo trading, that sort of doesn't make the market a balanced market anymore. See 2010 flash crash. "Procter & Gamble in particular dropped nearly 37% before rebounding, within minutes, back to near its original levels. The drop in P&G was broadcast live on CNBC at the time, with commentator Jim Cramer commenting."
- hnaparst 9y agoExactly. There are a lot of problems with compensating customers who lose money. This is why it is unethical for Financial Advisors to do that.