IF your investment is heading south fast, or you can’t figure out why your broker bought or sold certain things, never hesitate to ask questions, advises Elisse Walter, senior vice president with the NASD.

Still, your broker confuses you when you ask why things have gone wrong, and you hit a dead end when you call his boss. Now what?

You can take action by calling or e-mailing regulators at http://www.nasd.com. The NASD can recover damages against brokerages that have serious violations, although many complaints stem from “simple operational problems,” such as statements not mailed on time.

Pressuring investors to buy the wrong financial products – what is called investment suitability – is an example of a serious problem. This happens when a broker sells products in his best interests – not those of the client.

Gregory Bresiger