Andrew Justin Grant (also known as Andy Grant), of Melville, New York, a stockbroker registered with Laidlaw Company (UK) Ltd., has been fined $5,000.00 and suspended for one month from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Grant engaged in unauthorized trading during the time that he was associated with Laidlaw Company. Letter of Acceptance, Waiver, and Consent No. 2020068113401 (March 29, 2023).
According to the AWC, between October 22, 2021 and April 19, 2022, discretionary authority was exercised by Grant for 102 trades in the accounts of four Laidlaw Company customers. The regulator states that the customers never gave Grant permission to engage in discretionary trading. His trading was also prohibited by Laidlaw Company, as the securities broker dealer did not accept the four customers’ accounts as discretionary accounts.
This is not the first time that Grant has been the subject of a regulatory action concerning Grant’s unauthorized trading. Public Disclosure shows that Grant was previously fined $5,000.00 and suspended for fifteen days by FINRA. Letter of Acceptance, Waiver, and Consent No. 2018059749401 (January 17, 2020). The AWC states that Grant effected 634 transactions across thirteen customers’ accounts. Neither the customers nor Laidlaw approved of his discretionary trading.
Public Disclosure additionally shows that Grant was referenced in a customer initiated investment related complaint filed on August 2, 2018, in which the customer requested $125,000.00 in damages based upon allegations that Grant made unsuitable recommendations of over the counter equities, common stocks, preferred stocks, and options to the customer during the time that Grant was associated with Laidlaw Company (Uk) Ltd.
Grant’s registration with Laidlaw Company (UK) Ltd. was terminated on May 5, 2022. Grant has been registered with Network 1 Financial Securities Inc. since May 27, 2022.
