Laidlaw & Company Customer Alleges Excessive Trading

Craig Aaron Bonn (CRD #: 2280460), who was previously a registered representative of Laidlaw & Company (UK) Ltd. located in New York New York, has disclosed on Financial Industry Regulatory Authority (“FINRA”) BrokerCheck that a Laidlaw customer filed FINRA Arbitration #18-02628 on August 29, 2018, alleging excessive trading and unsuitability.

Bonn’s BrokerCheck records show that the customer alleged Bonn to have made unsuitable stock trades, and traded excessively in the customer’s account between 2008 and 2016. At least $228,128.47 in damages have been requested by the customer as a result of Bonn’s alleged sales practice violations.

In addition, Bonn also disclosed that FINRA Arbitration #14-00033 was filed by a Laidlaw customer on January 17, 2014. Bonn was accused of giving the customer poor advice regarding equities and limited partnership interests or direct participation programs. Laidlaw resolved the customer’s allegations by paying the customer $325,000.00 in damages.

On March 23, 2004, Bonn was alleged in a complaint to have made unsuitable investments in the account of a Sands Brothers & Co. customer. The customer alleged that it was inappropriate for the customer to have been placed in certain equities. That complaint has not been pursued by the customer as of August 6, 2004.

Bonn is presently a registered representative of National Securities Corporation.

If you believe you are a victim of sales practice violations such as those alleged to have been committed by Craig Aaron Bonn, contact the Law Office of Peter M. Spett for a complimentary consultation to evaluate your legal rights and claims.

Customer Lodges Dispute Against Dakota Securities For Investment Losses

Thomas Patrick Beattie (CRD#: 1321866) is a general securities representative who disclosed a pending consumer-initiated, investment-related complaint from April 16, 2018 containing allegations against Beattie of committing sales practice violations while registered with CP Capital Securities (Miami, Florida) and Dakota Securities International, Inc. (Miami, Florida), which caused the customer to experience losses on mutual funds, over-the-counter equities and other investments. The customer has alleged $250,000.00 in damages.

According to FINRA BrokerCheck, this is the fourth consumer-initiated, investment-related dispute in which Beattie’s sales practices have been called into question. The first complaint, dated May 12, 2011, involved allegations of nine unauthorized equity trades having been executed in a customer’s account when Beattie was registered with Great American Advisors, Inc. (Homestead, Florida). The customer alleged damages of $19,038.00.

A second complaint, dated February 11, 2013, alleged that Beattie misrepresented the customer’s information, and recommended unsuitable penny stock and corporate debt investments for the customer’s account while registered with Lincoln Investment (Homestead, Florida). That customer’s complaint was settled for $5,609.82. The third complaint, which is currently pending, concerned Beattie’s activities when registered with CP Capital Securities (Miami, Florida) and Dakota Securities International, Inc., where the customer alleged poor investment performance and excessive trading in the customer’s account between March 1, 2016 and January 1, 2018.  The customer alleged $251,000.00 in damages.

Beattie has additionally disclosed three regulatory actions regarding allegations of his misconduct. In particular, the Florida Department of Banking and Finance, Division of Securities and Investor Protection, authorized Beattie’s application for registration in the state subject to a Heightened Supervision Agreement containing restrictions on him from serving in a principal capacity in the securities industry or exercising discretion in customer accounts. (Case#: 88.206.DOS). The sanctions were based upon allegations that Beattie effected unauthorized trades in customer accounts and accrued customer complaints.

Subsequently, to resolve allegations of Beattie’s excessive and unsuitable trading in customer accounts, Beattie entered into a Stipulation and Consent Agreement with the Florida Division of Securities and Investor Protection, where he was ordered to pay a $5,000.00 fine and his registration was suspended. (Case#: 2824-S-6/99).

Beattie is no longer registered with Dakota Securities International, Inc. He has been registered with SW Financial (Melville, New York) since July 31, 2018.

If you believe you are a victim of sales practice violations such as those alleged to have been committed by Thomas Patrick Beattie, contact the Law Office of Peter M. Spett for a complimentary consultation to evaluate your legal rights and claims.