The law firm of Oakes & Fosher is presently investigating the possible misconduct of securities broker Daniel Irving. According to his publicly available FINRA BrokerCheck report, Daniel Irving has been the subject of a FINRA sanction.
Daniel Irving is a Pennsylvania based securities broker. He has worked in the securities industry for fourteen years. During his career, he has been registered with four different securities firms.
His Registrations
- AXA Advisors (2004-2006)
- PNC Investments (2006-2014)
- FSC Securities Corporation (2014-2018)
- Vestech Securities (2018-Present)
The Allegations
- In September 2014, Daniel Irving resigned from his position at PNC Investments amidst allegations that he executed unauthorized trades in customer accounts.
- Daniel Irving was officially sanctioned by FINRA in July 2018. The findings in this matter state that he allegedly mismarked 105 trades in five customer accounts as unsolicited, even though they actually had been solicited. Due to these allegations against him, he was fined $5,000 and suspended for a period of one month.
What Does This Mean?
The difference between solicited and unsolicited trades is actually very important. Some riskier securities are presented to investors less often. Securities brokers and firms are less liable when investors come to them wanting to be invested in said riskier investments. When this takes place, the transactions were unsolicited. Securities firms have procedures in place to make sure they are made aware of whether transactions executed by their securities brokers were solicited or unsolicited. Securities brokers might sometimes mismark solicited trades as unsolicited in attempt to conceal the fact that they recommended unsuitable securities.
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 in this fashion 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 Daniel Irving, 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.
