Ask for and review written material before buying. Make sure the broker knows and understands your financial profile and life circumstances. Check confirmations and account statements carefully. Look for evidence of unwanted credit or margin use. Take immediate action if you detect a problem.
Time is critical .
Contact the firm's branch manager. And, send a telegram, or registered or overnight letter to the compliance department of the firm refusing the purchase. Also, follow up with a phone call to the firm's compliance department. Other resources are available on this topic via the Internet, such as the Securities and Exchange Commission's Cold-Calling Web Page , and information from the NASD about Telemarketing Rules to protect investors. For instance, the broker encourages an investor to purchase an investment that the broker wants vs. an investment that may be best suited to the investor.