UK-based firm Laidlaw settles with SEC over Reg BI lapses

Net profits to be distributed to harmed investors after failures to supervise.

The UK-based banking and brokerage firm, Laidlaw and Company Ltd., has settled with the SEC over failure to supervise and Regulation Best Interest (Reg BI) violations. The SEC imposed a civil penalty of disgorgement, instructing the business to produce the net profits from its violations, which will be distributed to

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