There are options for clients of former Laidlaw & Company (Uk) Ltd. broker Kumail Abbas (CRD# 5722935) who suffered investment losses. He has been registered with Network 1 Financial Securities Inc. in Hauppauge, New York, since 2019. Previously, he was registered with Laidlaw & Company (Uk) Ltd. in Melville, New York, from 2016 to 2019 and with Cape Securities Inc. in Holbrook, New York, from 2013 to 2014.
Kumail Abbas Customer Complaints
He has been the subject of three customer complaints between 2021 and 2022, according to his CRD report:
October 2022. “Client alleges excessive trading, excessive commissions and unauthorized trading from 2017-2018.” The customer is seeking $181,056 in damages and the case is currently pending. The complaint took place while he was registered with Laidlaw & Company (Uk) Ltd., and it was regarding common and preferred stocks.
June 2022. “Client alleges unsuitability from 2016-2018.” The customer is seeking $100,000 in damages and the case is currently pending. The complaint took place while he was registered with Laidlaw & Company (Uk) Ltd., and it was regarding common and preferred stocks.
December 2021. “Client alleges unsuitable trading from 2017 to 2018.” The case was settled for $3,000. The complaint took place while he was registered with Laidlaw & Company (Uk) Ltd., and it was regarding common and preferred stocks.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Laidlaw & Company (Uk) Ltd. may be liable for investment or other losses suffered by Kumail Abbas’ customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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