DO I HAVE TO SUE MY BROKER, OR CAN I JUST SUE THE FIRM?
Many people believe that they have to sue their broker if they’re going to sue their brokerage firm. This is false. The brokerage firm has independent duties to the investor that can be sued upon. The brokerage firm has the duty to supervise its broker. In addition, the brokerage firm also has liability under a concept called respondeat superior. So you do not need to name the broker if you would like to sue the brokerage firm.