Edward Short, Formerly with Laidlaw & Company, Suspended
MELVILLE, NEW YORK
Are you a former client of financial advisor Edward Short, who previously worked with Laidlaw & Company in Melville, New York? Our investment fraud law firm is looking into allegations made against Edward Short. According to FINRA’s Disciplinary Database, FINRA was investigating whether Short excessively traded or churned a customer’s account.
According FINRA’s January 2023 AWC with Short, he allegedly engaged in excessive trading that took place between July 2018 and December 2020. The customer had a cost-to-equity ratio of 76%. If a customer has a cost-to-equity ratio of 10%, that means the customer must make a 10% profit just to cover the costs of the trading.
From October 2012 to October 2022, Edward Scott Short was licensed with Laidlaw & Company and worked in Melville, New York. Short was also the subject of four customer complaints.
Short and Laidlaw & Company must abide by FINRA Rules, including FINRA Rule 2111, which provides that stockbrokers have to make suitable investment recommendations. Rule 2111 also provides that trades must be quantitatively suitable – that trades, taken together, are proper for a customer. Trading accounts with high cost-to-equity ratios is likely unsuitable because it makes it nearly impossible for an account to make a profit.
Israels & Neuman represent investors in FINRA arbitration proceedings all over the country. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
VIew Short, e BrokerCheck 2.1.23
View Short, e FINRA AWC