Andrew Grant Suspended By FINRA For Allegedly Engaging In Unauthorized Discretionary Trading

The law firm of Oakes & Fosher is currently investigating the alleged misconduct of securities broker Andrew Justin Grant. According to his publicly available FINRA BrokerCheck report, Andrew Grant was faced with a customer dispute covering the length of two years.

Andrew Grant is a New York-based securities broker who has worked in the securities industry for twenty-three years. During his career, he has been registered with nine different securities firms.

His Registrations 

• Investor Associates (1997-1997)


• IAR Securities Corp. (1997-1997)


• Tasin & Company (1997-1999)


• Weatherly Securities Corporation (1999-2001)


• Ehrenkrantz King Nussbaum (2001-2001)


• Ehrenkrantz King Nussbaum, Inc (2001-2005)


• Empire Financial Group (2005-2008)


• Obsidian Financial Group (2008-2012)


• Laidlaw & Company (2012-present)

The Allegations 

• In January 2020, Andrew Grant was officially sanctioned by FINRA based on the findings that he had allegedly engaged in discretionary trading in his clients’ accounts without first obtaining written authorization. Due to these alleged actions he was fined $5,000 and suspended from acting as a securities broker in any fashion for a period of fifteen days.

Discretionary Trading

Securities brokers are prohibited from executing trades on behalf of investors without first obtaining the investor’s authorization.  There is however a practice known as discretionary trading that allows a securities broker to execute trades in a client’s account without obtaining authorization for each one, but the broker must first obtain written authorization from the investor first.  This written authorization is necessary as it keeps the investor involved in the process and helps protect them against potential unsuitable investments made without their knowledge.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money due to this fraud or negligence may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Andrew Grant, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.