to seniors
i am working for a reputed stock broking firm as a dealer. i am working with the same company since 4 1/2 duty is to generate business by providing recommendations to clients.recently one of the client said to trade in his account on his behalf but didn't sign on any authorization documents.there are some phone recordings of the client saying the same.and as per my company rules client will recieve trade confirmation alerts via SMS,mails. i have traded in his account and he incurred a loss. now client has complained in our company and asking to return back the there are no recording proofs for each trade, our complaince department is asking me to pay that amount. my salary is 9000 per month and cannot pay that amount. i have applied for resignation. but they are not accepting my resignation.
i am in a helpless situation unable to understand what to do.
can anyone suggest what should be done.and if i leave my company without resignation then will it be

From India

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Hello supritha,
First & Foremost, DON'T......REPEAT DON'T........leave without resigning & getting formally relieved or even take any leave without a written intimation/confirmation.
If you do that, you COULD BE automatically be taken as 'absconded' & pl don't be surprised if your company or client lodges a Police Complaint--since this involves a financial issue.
This situation is similar [NOT identical] to the rules governing Bank employees who handle the Cash/Teller counter on any particular day.

You obviously did a big blunder in trading without the proper WRITTEN authorization from the client.

You mentioned that there are some phone recordings--didn't they help you to convince your company management?

You didn't mention the amount involved. There COULD be a possibility that the company may agree if you ask them to deduct some amount every month--UNTIL THE FULL AMOUNT is recovered. basically, repayment in instalments--with the company handling the client from their funds [this again is what is done in the banking industry--to the extent I know of]. But whether the company will accept this suggestion or not depends a lot on your PAST personal credibility/reputation @ work.

All the Best.

From India, Hyderabad

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