Richard Michalski with Laidlaw & Company Suspended by SEC

NEW YORK, NY     Did you lose money with financial advisor Richard Michalski with Laidlaw & Company in New York City, New York?  He was recently under investigation by the Securities and Exchange Commission (SEC).

The SEC alleged that Richard Michalski engaged in excessive trading or churning.  The SEC further alleged that this type of trading violated Regulation Best Interest (or Reg BI), and Reg BI’s “care obligation”.  The alleged trading generated over $88,000 in commissions for Michalski and nearly $148,000 for Laidlaw & Company.  To settle these allegations, he agreed to a six-month suspension, ordered to disgorge over $88,000, and to pay a $44,000 fine.

Richard Michalski has been an affiliate of Laidlaw & Company since 2010.  He worked in a New York City, New York office.  He was also the subject of a customer complaint in 2008.

Our securities arbitration law firm represents clients all over the country, including investors in New York.  We have recovered millions of dollars for investors through FINRA Arbitration against numerous firms.

See BrokerCheck report HERE

See SEC Order HERE

If you lost money with Richard Michalski or Laidlaw & Company, please Contact Us at 206-795-5798 for a free evaluation of your case.