Vermont Investors Entitled to Protections Under the Vermont Consumer Protection Law

Stockbroker Law - Friday, August 31, 2012
Vermont Investors Entitled to Protections Under the Vermont Consumer Protection Law

The State of Vermont Legislature has passed consumer fraud laws to protect Vermont citizens from unfair and deceptive business practices.  These laws are also designed to encourage a commercial environment highlighted by integrity and fairness.  Relief is available to defrauded consumers under Vermont’s consumer fraud laws (9 V.S.A. §2451, et seq.).  This law was enacted in order to encourage and promote the prosecution of fraud claims of individual consumers (Wilder v. Aetna Life & Casualty Insurance Company, 140 VT 16, 18, 433 A.D.2d 309, 310 [1981]).

Vermont’s consumer fraud statute affords victimized consumers civil remedies for monetary damages, as well as a provision for attorney’s fees to be awarded upon a finding that the consumer fraud laws have been violated (Fraser v Choiniere, 133 VT. 631, 350 A.D.2d 755 [1975]).

Until as recently as 2010, Vermont residents victimized by investment-related schemes involving FINRA-jurisdictional securities brokers were required to have their claims heard outside of the State of Vermont, as FINRA did not conduct hearings in the State of Vermont.  In 2011, the Financial Industry Regulatory Authority (FINRA) Office of Dispute Resolution designated Montpelier, Vermont as a hearing situs for FINRA arbitration claims filed by Vermont residents, thereby obviating the necessity that Vermont residents have their claims heard in otherwise prior hearing locates such as Albany, New York, Boston, Massachusetts, and Hartford, Connecticut. 

If you are a Vermont resident and feel you have been victimized by a securities broker, we offer a free initial consultation to you.

The Law Offices of Timothy J. O’Connor is one of the only law firms practicing securities law in the Tri-City Capital District of Albany, Schenectady and Troy.  We also represent victimized investors throughout the rest of New York State, including Buffalo, Binghamton, Syracuse, Watertown, Utica, Kingston, New York City/Manhattan, Long Island, and everywhere in between, as well as in the surrounding states of Massachusetts, Vermont, New Hampshire, Connecticut and New Jersey.

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