John Coolong Fined $15,000 By FINRA
John Coolong (CRD #: 5924271), a broker registered with Laidlaw & Company (UK), is facing a FINRA fine following allegations that he failed to maintain his firm’s books and records. The same FINRA agreement alleges that Laidlaw failed to enforce supervisory procedures designed to prevent manipulative trading strategies. These allegations are posted on Coolong’s BrokerCheck record, accessed on August 2, 2021.
On July 15, 2021, John Coolong entered into an Acceptance, Waiver, and Consent agreement (AWC) in which he consented to the findings that he failed to preserve books and records. According to the AWC, Coolong and other firm personnel routinely communicated with each other and customers via text message. Coolong allegedly did not submit these texts to a supervisor to review and retain.
In the AWC, FINRA also alleges that John Coolong did not fulfill his duties as Compliance Officer to review certain trades for possible market manipulation. Market manipulation involves securities transactions that create a false impression of a stock’s value.
As part of the terms of the AWC, Coolong consented to a $15,000 fine and a two-month suspension. You can read a copy of the AWC here.
John Coolong Background Information
Coolong has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
- Series 24 General Securities
- Series 27 Financial and Operations Principal Examination
Coolong has only registered with Laidlaw & Company (UK) (CRD #: 119037) in New York City, New York.
Kurta Law Can Help
If you worked with John Coolong and you have concerns about your investments, contact Kurta Law today. Call 212-658-1502 or email email@example.com.