Securities Lawyers Blog
The investment lawyers at Gana Weinstein LLP have experience helping investors determine whether their portfolio losses at investment firms, such as Laidlaw & Company (UK) Ltd., were caused by broker misconduct. There are many different ways that your broker can impermissibly drain your accounts. Our attorneys can help you understand the cause of your investment losses, uncover misconduct, and apply the law to hold accountable those responsible.
Laidlaw & Company (UK) is an investment bank and securities brokerage firm that provides capital raising, mergers and acquisitions, strategic advisory, wealth management, and equity research, with a particular focus on healthcare and emerging growth companies. Registered as a broker-dealer since 2002, the firm is based in New York and maintains a presence in London, serving companies, institutions, and high-net-worth individuals across the United States and Europe.
Laidlaw & Company (UK) Ltd. – By the Numbers:
- CRD #: 119037
- Regulatory Events: 10
- Arbitration Events: 4
- Broker Employees: 41
Laidlaw & Company (UK) Ltd. – In the News:
FINRA v. Laidlaw & Company (UK) Ltd. (Case #2023077061201) – From September 2022 through March 2023, Laidlaw conducted a securities business while failing to maintain the required minimum net capital on at least 108 days and filed two inaccurate notices of net capital deficiency, in violation of Exchange Act §§ 15(c)(3) and 17(a), Exchange Act Rules 15c3-1 and 17a-11, and FINRA Rules 4110(b)(1) and 2010. From at least September 2022 through June 2023, Laidlaw failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with its net capital and financial reporting obligations. As a result, the firm violated FINRA Rules 3110 and 2010. Between November 2020 and January 2021, Laidlaw violated Exchange Act § 15(c)(2), Exchange Act Rule 15c2-4, and FINRA Rule 2010 by failing to establish an independent escrow account in a contingency offering for an affiliated issuer. For these violations, Laidlaw is censured and fined $200,000.
FINRA v. Laidlaw & Company (UK) Ltd. (Case #2019060646801) – Laidlaw conducted a securities business while failing to maintain the required minimum net capital during four periods between February 2018 and July 2022. As a result, Respondent violated Section 15(c) of the Securities Exchange Act of 1934 and Rule 15c3-1 thereunder, and FINRA Rules 4110(b) and 2010. During those periods, Laidlaw also failed to timely file required notices of net capital deficiency with the SEC and FINRA. Further, on March 8, 2019, Laidlaw filed an inaccurate notice of net capital deficiency. As a result, Respondent violated Section 17(a) of the Exchange Act and Exchange Act Rule 17a-11(b) thereunder, and FINRA Rule 2010. Further, Laidlaw failed to maintain accurate books and records concerning its net capital position between January 2018, and July 2022, and filed 24 inaccurate Financial and Operational Combined Uniform Single (FOCUS) reports between January 2018 and July 2022. As a result, Laidlaw violated Section 17(a) of the Exchange Act and Exchange Act Rules 17a-3 and 17a-5 thereunder, and FINRA Rules 4511 and 2010. Additionally, between February 2018 and January 2019, Laidlaw’s supervisory system, including written supervisory procedures, was not reasonably designed to achieve compliance with FINRA Rule 2111 in connection with the due diligence private placement offerings. By virtue of the foregoing, Laidlaw violated FINRA Rules 3110 and 2010.
FINRA v. Laidlaw & Company (UK) Ltd. (Case #2016049087201) – From at least January 2015 through September 2015, Laidlaw failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures, reasonably designed to achieve compliance with federal securities laws and FINRA rules prohibiting market manipulation. Laidlaw also failed to detect red flags of potential market manipulation. By virtue of the foregoing, Laidlaw violated FINRA Rules 3110 and 2010. During at least the same period, Laidlaw and Coolong failed to preserve and maintain certain books and records required by Section 17(a) of the Exchange Act and Exchange Act Rule 17a-4. Specifically, Laidlaw and Coolong failed to maintain numerous business-related text messages exchanged between firm personnel and customers. As a result, Laidlaw violated Section 17(a) of the Exchange Act, Exchange Act Rule 17a-4, and FINRA Rules 4511 and 2010, and Coolong violated FINRA Rules 4511 and 2010.
FINRA v. Laidlaw & Company (UK) Ltd. (Case #2015043362701) – From April 2013 through December 2015 (the “Relevant Period”), Laidlaw failed to establish and maintain a supervisory system and written supervisory procedures (“WSPs”) reasonably designed to ensure that representatives’ recommendations of leveraged and inverse exchange traded funds (“Non-Traditional ETFs”) complied with applicable securities laws and NASD and FINRA Rules. As a result, Laidlaw violated NASD Rule 3010 and FINRA Rules 3110 and 2010.
Gana Weinstein LLP has successfully handled hundreds of customer investment disputes with their brokerage firms. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free and we welcome all inquiries.