DID JOHN WARREN COOLONG CAUSE YOU INVESTMENT LOSSES?
John Coolong Of Laidlaw & Company (UK) Ltd. Has A Customer Complaint For Alleged Broker Misconduct
About John Coolong of Laidlaw & Company (UK) Ltd.?
John Coolong (CRD #5924271) presents a challenging profile as a broker, currently employed by Laidlaw & Company (UK) Ltd. in New York, NY since 2011. His career is marked by a significant regulatory event and a customer dispute, casting a shadow over his professional conduct. Coolong has passed three principal/supervisory exams and three general industry/product exams along with one multi-state securities law exam, indicating substantial knowledge but also raising questions about the application of his expertise given the nature of the allegations against him. His history shows no professional designations, which may suggest a lack of continued professional development consistent with the evolving standards of the financial advisory field.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
John Coolong Customer Complaint and Reviews
- Regulatory Event (Final)
- Date Initiated: July 15, 2021
- Allegations: Failure to preserve required books and records, specifically related to the use of personal mobile phones for business communications.
- Sanctions: Civil and administrative penalties/fines totaling $15,000 and a two-month suspension.
- Resolution Date: July 15, 2021
- Outcome: The matter was settled with FINRA through an Acceptance, Waiver, and Consent (AWC) agreement.
- Customer Dispute (Awarded)
- Date Notice Served: January 31, 2020
- Allegations: Negligence, misrepresentation, fraud, breach of duty including statutory duty, excessive commissions, and loss of opportunity.
- Arbitration Claim Filed: FINRA Case #20-00030
- Disposition Date: March 31, 2023
- Outcome: Coolong was found jointly and severally liable; ordered to pay compensatory damages totaling $57,375.43 and $375.00 in arbitration fees.
Allegations against John Coolong
- John W. Coolong faced severe allegations that highlight significant professional missteps:
- Regulatory Violations: He was sanctioned for failing to ensure that his firm maintained proper records of business communications conducted on personal devices, a fundamental requirement for compliance in the financial industry.
- Customer-Initiated Allegations: Accusations of negligence and fraudulent behavior in managing client accounts led to a financial arbitration where Coolong and his firm were held liable for compensatory damages due to misconduct. This dispute involved claims of negligence, misrepresentation, fraud, excessive commissions, and breach of fiduciary duty, resulting in financial losses and missed opportunities for the client.
These disclosures provide a stark view of potential risks associated with Coolong’s advisory services, underlining the importance of due diligence for clients considering his services.
John Coolong Red Flags & Your Rights As An Investor
Of course, John Coolong did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of John Coolong at Laidlaw & Company (UK) Ltd. on alert to review carefully the activity and performance of their accounts and question whether John Coolong has engaged In any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Laidlaw & Company (UK) Ltd. also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Laidlaw & Company (UK) Ltd. Due To John Coolong
If you have questions about Laidlaw & Company (UK) Ltd. and/or John Coolong and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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