Michael Resciniti, formerly of Laidlaw & Company, Suspended by FINRA
Have you lost money with financial advisor Michael Resciniti of Melville, New York? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Michael J. Resciniti. FINRA suspended Resciniti from the securities industry for seven months regarding allegations that he engaged in unauthorized trading on 31 occasions without written permission to do so. FINRA also alleged that he engaged in this conduct during 2015, while he was affiliated with Laidlaw & Company (UK).
Michael Resciniti was a financial advisor and registered representative of Laidlaw & Company (UK) from January 2015 to February 2016. He’s been affiliated with 16 different firms in roughly 17 years in the industry. He worked at a branch office in Melville, New York. Resciniti has been the subject of five customer complaints, alleging claims of unauthorized trading. Resciniti previously had his licensed revoked in Illinois, and he was also previously suspended by the NASD in 2007. Resciniti also filed for bankruptcy in 2016.
Brokerage firms like Laidlaw & Company have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Seattle, Washington; Ann Arbor, Michigan; and Denver. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout New York and the New York City area. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Resciniti, Michael FINRA AWC
Click to view: Resciniti, Michael BrokerCheck 11.17.17
If you lost money with Michael Resciniti or Laidlaw & Company, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.