{"id":7884,"date":"2019-02-21T15:19:34","date_gmt":"2019-02-21T20:19:34","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=7884"},"modified":"2019-02-22T16:00:34","modified_gmt":"2019-02-22T21:00:34","slug":"laidlaw-company-finra-complaint","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/","title":{"rendered":"Laidlaw &#038; Company FINRA Complaint"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-4660 size-medium\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Two-South-Florida-Brokers-in-the-FINRA-Spotlight-for-Making-Inappropriate-Loans-300x199.jpg\" alt=\"Two-South-Florida-Brokers-in-the-FINRA-Spotlight-for-Making-Inappropriate-Loans-300x199\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Two-South-Florida-Brokers-in-the-FINRA-Spotlight-for-Making-Inappropriate-Loans-300x199.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Two-South-Florida-Brokers-in-the-FINRA-Spotlight-for-Making-Inappropriate-Loans-768x509.jpg 768w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Two-South-Florida-Brokers-in-the-FINRA-Spotlight-for-Making-Inappropriate-Loans-1024x678.jpg 1024w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Two-South-Florida-Brokers-in-the-FINRA-Spotlight-for-Making-Inappropriate-Loans-1000x662.jpg 1000w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Two-South-Florida-Brokers-in-the-FINRA-Spotlight-for-Making-Inappropriate-Loans-181x120.jpg 181w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>On May 1, 2018, FINRA Department of Enforcement entered into a settlement via Acceptance, Waiver, and Consent (AWC) with Respondent Laidlaw &amp; Company. Without admitting or denying any wrongful acts, Laidlaw consented to a public censure by FINRA, the imposition of a $25,000 fine, as well as agreeing to give FINRA a written statement saying that systems mentioned in the AWC are designed to achieve compliance with &#8220;applicable securities laws, regulations, and rules.<\/p>\n<p>FINRA Enforcement alleged that from April 2014 through December 2015, Laidlaw did not establish and maintain a supervisory system and written supervisory procedures (WSPs) designed to ensure that recommendations of leveraged and inverse exchange traded funds (Non-Traditional ETFs) complied with applicable securities laws and FINRA rules.<\/p>\n<p>Non-Traditional ETFs are risky financial products because they are designed to return a multiple of an underlying benchmark or index over the course of a trading session. They are not intended to be held for more than a single trading session. FINRA Regulatory Notice 009-31 states &#8220;The performance of Non-Traditional ETFs over periods of time longer than a single trading session can differ significantly from the performance of their underlying or benchmark during the same period of time.&#8221;<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/\"  title=\"Continue Reading Laidlaw &#038; Company FINRA Complaint\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>On May 1, 2018, FINRA Department of Enforcement entered into a settlement via Acceptance, Waiver, and Consent (AWC) with Respondent Laidlaw &amp; Company. Without admitting or denying any wrongful acts, Laidlaw consented to a public censure by FINRA, the imposition of a $25,000 fine, as well as agreeing to give FINRA a written statement saying [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[574,575,577],"tags":[1359,144,1638,1637,1643,1642,1640,1639],"class_list":["post-7884","post","type-post","status-publish","format-standard","hentry","category-current-investigations","category-exchange-traded-funds","category-finra-disciplinary-actions","tag-finra-arbitration-lawyer","tag-laidlaw-company","tag-mabvax-therapeutics","tag-non-traditional-etfs","tag-polarityte-inc","tag-protea","tag-relmada-therapeutics","tag-spherix"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Laidlaw &amp; Company FINRA Complaint &#8212; Securities Arbitration Lawyers Blog &#8212; February 21, 2019<\/title>\n<meta name=\"description\" content=\"On May 1, 2018, FINRA Department of Enforcement entered into a settlement via Acceptance, Waiver, and Consent (AWC) with Respondent Laidlaw &amp; Company. &#8212; February 21, 2019\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Laidlaw &amp; Company FINRA Complaint &#8212; Securities Arbitration Lawyers Blog &#8212; February 21, 2019\" \/>\n<meta name=\"twitter:description\" content=\"On May 1, 2018, FINRA Department of Enforcement entered into a settlement via Acceptance, Waiver, and Consent (AWC) with Respondent Laidlaw &amp; Company. &#8212; February 21, 2019\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Two-South-Florida-Brokers-in-the-FINRA-Spotlight-for-Making-Inappropriate-Loans.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Laidlaw & Company FINRA Complaint &#8212; Securities Arbitration Lawyers Blog &#8212; February 21, 2019","description":"On May 1, 2018, FINRA Department of Enforcement entered into a settlement via Acceptance, Waiver, and Consent (AWC) with Respondent Laidlaw &amp; Company. &#8212; February 21, 2019","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/","twitter_card":"summary_large_image","twitter_title":"Laidlaw & Company FINRA Complaint &#8212; Securities Arbitration Lawyers Blog &#8212; February 21, 2019","twitter_description":"On May 1, 2018, FINRA Department of Enforcement entered into a settlement via Acceptance, Waiver, and Consent (AWC) with Respondent Laidlaw &amp; Company. &#8212; February 21, 2019","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Two-South-Florida-Brokers-in-the-FINRA-Spotlight-for-Making-Inappropriate-Loans.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"Laidlaw &#038; Company FINRA Complaint","datePublished":"2019-02-21T20:19:34+00:00","dateModified":"2019-02-22T21:00:34+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/"},"wordCount":452,"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Two-South-Florida-Brokers-in-the-FINRA-Spotlight-for-Making-Inappropriate-Loans-300x199.jpg","keywords":["finra arbitration lawyer","Laidlaw &amp; Company","MabVax Therapeutics","Non-traditional ETFs","PolarityTE Inc","Protea","Relmada Therapeutics","Spherix"],"articleSection":["Current Investigations","Exchange Traded Funds","FINRA Disciplinary Actions"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/","url":"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/","name":"Laidlaw & Company FINRA Complaint &#8212; Securities Arbitration Lawyers Blog &#8212; February 21, 2019","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/#primaryimage"},"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Two-South-Florida-Brokers-in-the-FINRA-Spotlight-for-Making-Inappropriate-Loans-300x199.jpg","datePublished":"2019-02-21T20:19:34+00:00","dateModified":"2019-02-22T21:00:34+00:00","author":{"@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"description":"On May 1, 2018, FINRA Department of Enforcement entered into a settlement via Acceptance, Waiver, and Consent (AWC) with Respondent Laidlaw &amp; Company. &#8212; February 21, 2019","breadcrumb":{"@id":"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/#primaryimage","url":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Two-South-Florida-Brokers-in-the-FINRA-Spotlight-for-Making-Inappropriate-Loans.jpg","contentUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2017\/07\/Two-South-Florida-Brokers-in-the-FINRA-Spotlight-for-Making-Inappropriate-Loans.jpg","width":4928,"height":3264},{"@type":"BreadcrumbList","@id":"https:\/\/www.silverlaw.com\/blog\/laidlaw-company-finra-complaint\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.silverlaw.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Laidlaw &#038; Company FINRA Complaint"}]},{"@type":"WebSite","@id":"https:\/\/www.silverlaw.com\/blog\/#website","url":"https:\/\/www.silverlaw.com\/blog\/","name":"Securities Arbitration Lawyers Blog","description":"Published by Securities Arbitration Lawyers \u2014 Silver Law Group","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.silverlaw.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752","name":"Silver Law Group","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","caption":"Silver Law Group"}}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/7884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/comments?post=7884"}],"version-history":[{"count":2,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/7884\/revisions"}],"predecessor-version":[{"id":7886,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/7884\/revisions\/7886"}],"wp:attachment":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/media?parent=7884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/categories?post=7884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/tags?post=7884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}