Andy Grant (CRD#: 2709882), a registered representative with Laidlaw & Company (UK) Ltd. in Melville, NY (CRD#: 119037), has been suspended from the securities industry by the Financial Industry Regulatory Authority (FINRA), according to his BrokerCheck record accessed on February 21, 2020.
What happened to lead to Andy Grant’s suspension from the securities industry? On January 17, 2020, Andy Grant entered into an Acceptance, Waiver, and Consent agreement with FINRA in which he consented to the entry of findings that he made discretionary trades in customer accounts without customer authorization. Andy Grant also consented to FINRA’s sanction: a 15-day suspension. The suspension will last from February 18, 2020 to March 9, 2020. FINRA also fined Andy Grant $5,000. A copy of Andy Grant’s AWC can be viewed here.
What does it mean to exercise discretion without authorization? Unauthorized trading happens when a broker trades within a non-discretionary account without letting their client know. Did your broker inform you before every trade they made in your portfolio? Did you recognize every trade listed on the monthly or quarterly statements your brokerage firm sent to you? If not, your broker may have exercised discretion without the proper approval, which is a violation of FINRA Rule 2010.
Andy Grant is registered to sell securities in Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Maryland, Massachusetts, Minnesota, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, the Virgin Islands, and Virginia. Andy Grant has passed the Series 63 – Uniform Securities Agent State Law Examination, the SIE – Securities Industry Examination, and the Series 7 – General Securities Representative Examination.
Over his 22 years in the securities industry, Andy Grant has worked for nine firms, many of which have been expelled from the securities industry by FINRA:
- Obsidian Financial Group, LLC (CRD#: 104255) – expelled by FINRA on October 16, 2013
- Empire Financial Group, Inc. (CRD#: 28759) – expelled by FINRA on March 30, 2009
- Ehrenkrantz King Nussbaum, Inc. (CRD#: 113525) – expelled by FINRA on October 12, 2012
- Ehrenkrantz King Nussbaum (CRD#: 31140)
- Weatherly Securities Corporation (CRD#: 11081)
- Tasin & Company, Inc. (CRD#: 30709) – expelled by FINRA on September 5, 2001
- IAR Securities Corp. (CRD#: 5155) – expelled by FINRA on August 28, 2012
- Investors Associates, Inc. (CRD#: 958) – expelled by FINRA on May 14, 1998
If Andy Grant was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta to learn about your options for recovery. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation today.