How should I proceed if the bank has executed my securities orders incorrectly?
March 9, 2024 | 40,00 EUR | answered by Karl Böhm
Dear lawyer specializing in banking law,
I am reaching out to you today with an urgent question. My name is Otto Gerdes and I have been a customer of my local bank for many years. Recently, I have noticed that my securities orders have been executed incorrectly by the bank. This concerns both the purchase and sale of securities.
The situation is as follows: I have placed several securities orders through my online banking account and have realized that the bank did not execute them correctly. Some transactions were processed at incorrect prices or the securities were not bought or sold at the desired time. As a result, I have already incurred financial losses and I am very worried about my invested assets.
My question to you is: How should I proceed in such a case? Are there any legal actions I can take against the bank to claim back my money or receive compensation? What options do I have as a customer to correct the faulty securities orders and prevent future mistakes?
I would be very grateful if you could offer me your advice and support in this matter. I am hoping for a quick and effective solution to address my concerns and protect my financial interests.
Kind regards,
Otto Gerdes
Dear Mr. Gerdes,
Thank you for your inquiry regarding the incorrect execution of your securities orders by your bank. It is understandable that you are concerned about your invested assets and are seeking legal steps to reclaim your money or receive compensation.
In such a case, it is important that you first contact your bank and report the incorrect transactions. Request a statement from the bank regarding the errors and demand a correction of the improperly executed securities orders. Document all communication with the bank to have evidence of your complaints later on.
If the bank does not comply with your demands or does not offer a satisfactory solution, as a customer you have various legal options to enforce your rights. You can file a complaint with the bank and contact the relevant financial supervisory authority. They will investigate the matter and may impose sanctions against the bank if necessary.
Furthermore, you can enlist the help of a lawyer specializing in banking law to assert your claims in court. A lawyer can assist you in pursuing compensation claims against the bank and potentially filing a lawsuit in court. It is important that you gather all relevant documents and information regarding the incorrect transactions and provide them to your lawyer.
To avoid future errors, make sure to review your securities orders carefully and ensure that all transactions are executed correctly. Consider using alternative trading platforms or brokers to conduct your securities transactions if necessary.
I am available to provide legal advice and support in this matter. Please do not hesitate to contact me so that we can work together to find a solution to your concerns.
Best regards,
Karl Böhm, Lawyer specializing in banking law
