Manufacturing Industry
SEC Online Trading Complaints Continue Their Sharp Rise
Electronic News, May 21, 2001
SEC Online Trading Complaints Continue Their Sharp Rise
SEC Online Trading Complaints
1997 467
1998 1,478
1999 3,355
2000 4,271
Note: Table made from bar graph
The top five types of online
broker-dealer complaints for 2000 were:
Type of Conduct Total 2000
1. Failures/delays in processing orders 575
2. Margin position sellouts 336
3. Difficulty accessing account 276
4. Transfer of account problems 259
5. Errors in processing orders 246
SOURCE: U.S. SECURITIES & EXCHANGE COMMISSION
During 2000, the Securities and Exchange Commission received 4,271 complaints about online broker-dealers. The represents an increase of more than 27 percent compared to 1999. Since 1997, online trading complaints have risen more than 814 percent.
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