Laidlaw & Company Broker, Andrew Grant, Sanctioned By FINRA For Allegedly Effecting Unauthorized Transactions In Customer Accounts
Andrew Justin Grant (CRD # 2709882) is a Financial Advisor at Laidlaw & company LTD in Melville, NY. Andrew Grant has been in the securities industry since since 1997 and previously worked at Obsidian Financial Group, LLC, Empire Financial Group, Inc., Ehrenkrantz King Nussbaum, Inc. Weatherly Securities Corporation, Tasin & Company, Inc., IAR Securities Corp., and Investors Associates, Inc.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on January 17, 2020, FINRA sanctioned Andrew Grant, suspending him from the industry for 15 days, and ordering him to pay a fine of $5,000. According to the FINRA sanction, “From January 1, 2018 through April 30, 2019, while associated with Laidlaw, Grant effected 634 trades in 13 customer accounts using discretion without the customers’ prior written authorization and without the Firm accepting these accounts as discretionary in writing.”
For a copy of the FINRA sanction, click https://www.finra.org/sites/default/files/fda_documents/2018059749401%20Andrew%20Grant%20CRD%202709882%20AWC%20va.pdf.
In addition, in August 2018, a customer filed a complaint against Andrew Grant alleging $125,000 in damages alleging, “unsuitability from 2015-2017.”
For a copy of Andrew Grant’s CRD, click https://brokercheck.finra.org/individual/summary/2709882#disclosuresSection.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
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