Nathaniel Royce Clay (also known as Nate Clay) of New York New York a stockbroker formerly registered with Laidlaw Company UK Ltd. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he failed to cooperate with FINRA’s request for information. Case No. 2020065912101 (June 22, 2020).
According to FINRA Public Disclosure, Clay was issued a Notice of Suspension on March 18, 2020, and issued a Suspension from Association letter on April 13, 2020. Clay was made aware by FINRA that he had until June 21, 2020, to seek termination of the suspension through cooperating with FINRA’s request. Clay did not respond by the deadline. The regulator automatically barred Clay as a stockbroker on June 22, 2020.
This is not the first time that FINRA sanctioned Clay. On August 28, 2019, he was suspended by FINRA based on accusations that he did not comply with a FINRA Arbitration Award.
Clay has been identified in five customer initiated investment related disputes regarding allegations of his wrongdoing when he was registered with Casimir Capital LP and National Securities Corporation. FINRA Public Disclosure shows that a customer filed an investment related complaint regarding Clay’s activities where they sought $65,000.00 in damages founded upon accusations that unauthorized transactions were effected by Clay at Casimir Capital.
Clay is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $42,000.00 in damages supported by allegations that margin was improperly used in their Casimir account. The claim also alleges that Clay made excessive trades of over-the-counter equities, causing damages to the customer.
Another customer filed an investment related complaint involving Clay’s conduct in which they requested $60,000.00 in damages based on accusations that their account was churned at National Securities Corporation. The claim alleges that the customer sustained damages on Clay’s excessive stock trades.
Clay is the subject of a different customer initiated investment related written complaint where the customer sought $28,208.00 in damages founded upon allegations that Clay made misrepresentations to them regarding over-the-counter equities and had churned their account during the time that he was employed by National Securities Corporation.
Clay’s registration with Laidlaw Company was terminated on February 7, 2019.
