What to Do If You Have a Problem With a Brokered CD
Donít be embarrassed if you invested in a long-term, brokered CD in the mistaken belief that it was a shorter-term instrumentóyou are not alone. Instead, you should complain promptly to the broker who sold you the CD. By complaining early you may improve your chances of getting your money back.
Here are the steps you should take:
Office of Investor Education and Advocacy
We will forward your complaint to the firmís compliance department and ask that they look into the problem and respond to you in writing.
Please note that sometimes a complaint can be successfully resolved. But in many cases, the firm denies wrongdoing, and it comes down to one personís word against anotherís. In that case, we cannot do anything more to help resolve the complaint. We cannot act as a judge or an arbitrator to establish wrongdoing and force the firm to satisfy your claim. And we cannot act as your lawyer.
You should also send your complaint to the banking regulator that oversees the bank or financial institution that issued the CD:
Caution: Please remember that even if you file a complaint with us or with a banking regulator, we may not be able to help you get your money back.