It was to compensate me for churning abuses, use of margins, and cashing out an annuity with a 7% guaranteed annual return when I had asked him to borrow money against my holdings. The majority of the settlement was attributable to the loss of $100k in death benefits which I forfeited because of the total distribution. He told me we had reinstated the annuity but, in fact, only $10k of the money redeposited was eligible for the 7% annual guarantee. I essentially lost the ability to leave my daughter a $600k inheritance which is what the death benefit would have paid out in another 7 years. Does this answer your question? Losses from the sale of stocks were claimed on past taxes (and will be for years to come). I think this is seen differently.
