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Network 1 Advisor Andrew Grant: FINRA Advises Disciplinary Action
Hauppauge, New York financial advisor Andrew Grant (CRD# 2709882) allegedly exercised unauthorized discretion in customer accounts, according to a recent investigation. Financial Industry Regulatory Authority records show that he is a broker with Network 1 Financial Securities and has previously been sanctioned by FINRA in connection with findings of misconduct.
According to a disclosure in Mr. Grant’s BrokerCheck report, a FINRA investigation recently concluded with a recommendation of disciplinary action against him. The disclosure states that FINRA made a preliminary determination in January 2023 “recommend that disciplinary action be brought against Andrew Grant alleging violation of FINRA Rules 3260(b) and 2010.” FINRA alleges that he violated these rules by exercising discretion in the accounts of four customer accounts without prior authorization. It alleges further that he violated FINRA Rules 4511 and 2010 by using “unapproved text messaging for business-related communications with a customer, causing the member-firm to fail to preserve required books and records.” FINRA has not yet announced any enforcement action against him in connection with this investigation.
A second disclosure in Mr. Grant’s BrokerCheck report concerns a 2020 FINRA enforcement action against him. In this case, FINRA sanctioned him in connection with findings that he made discretionary trades in customers’ accounts without their prior written authorization and without his member firm’s written acceptance of the accounts as discretionary. FINRA issued him a 15-day suspension and a fine of $5,000.
According to the Financial Industry Regulatory Authority, Andrew Grant holds 25 years of securities industry experience. Based in Hauppauge, New York, he has been a broker with Network 1 Financial Securities since May 2022. His registration history includes Laidlaw & Company (Melville, New York; 2012-2022), Obsidian Financial Group (Woodbury, New York; 2008-2012), Empire Financial Group (Uniondale, New York; 2005-2008), Ehrenkrantz King Nussbaum (Melville, New York; 2001-2005), Weatherly Securities Corporation, Tasin & Company, IAR Securities Corporation, and Investors Associates. His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is currently licensed in California, New York, Pennsylvania, the Virgin Islands, and Virginia. (Information current as of January 14, 2023.)
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