What is Selling Away
Selling away is a term that refers to the unauthorized sale of securities by a broker without the client’s permission. It is a clear violation of the broker’s fiduciary duty to act in the best interest of the client. This practice can result in significant financial losses for clients and can damage the reputation of the broker involved. It is essential for investors to understand the risks associated with selling away and to work with reputable brokers who adhere to ethical and legal standards.