Edward Short Investigation
June 2023-Melville, NY
According to publicly available records Edward Scott Short, a broker previously with Laidlaw & Company discloses a final regulatory matter resulting in being permanently suspended.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 1/2023, without admitting or denying the findings, Short consented to the sanctions and to the entry of findings that he willfully violated the Best Interest Obligation of the Securities Exchange Act of 1934 by recommending a series of trading in an elderly customer’s account that was excessive, unsuitable and not in the customer’s best interest. The findings stated that the customer relied on Short’s advice and routinely followed his recommendations and, as a result, Short exercised de facto control over the customer’s account. As a result of Short’s trading, the customer’s account generated $116,859 in commissions and resulted in approximately $185,000 in trading losses. This level of trading was excessive, unsuitable and not in the customer’s best interest. Sanctions were a seven month suspension starting in 2/2023 and ending in 9/2023 as well as restitution of $116,859 and a $5,000 fine .
In 2007, a customer of his former employer, Ehrenkrantz King Nussbaum, was paid $450,000 to resolve allegations that Short made unsuitable recommendations and charged unreasonable commissions.
Short was with Laidlaw & Company from 10/2012 to 10/2022.
If you have suffered losses in an account handled by Edward Short contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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