FINRA temporarily suspends FSC Securities Corporation stockbroker Daniel Irving for mismarking customer trades

By August 7, 2018Stock Broker

Daniel Irving (Daniel B. Irving) has consented to a sanction from FINRA (the Financial Industry Regulatory Authority). FINRA is a non-governmental regulator of securities firms that focuses on investor protection and market integrity through effective and efficient regulation of the securities industry. The attorneys of Fishman Haygood Investment Fraud Lawyers are currently investigating possible claims against stockbroker Daniel Irving.

In July 2018 Daniel Irving was suspended for one month from practicing as a broker. Daniel Irving has been employed as a broker and investment advisor for FSC Securities Corporation in Erie, Pennsylvania from 2014 to present.

Daniel Irving was previously associated with PNC Investments and his sanction follows misconduct from his employment with PNC.

FINRA alleges that Daniel Irving engaged in the following misconduct: mismarking trades as “unsolicited”, misrepresenting the foundation of the trades and causing his firm to keep inaccurate records .

In 2015, Irving was permitted to resign from his member Firm, PNC Investments after customer allegations of unauthorized trading. In a conclusion to what began in 2015, a FINRA investigation has found as of July 2017 that Irving is responsible for mismarking 105 trades in 5 separate customer accounts as “unsolicited.” It is extremely important for firms to keep accurate books and records regarding whether trades are solicited or unsolicited. A solicited trade is when a broker/investment advisor introduces and recommends a specific trade. An unsolicited trade is when the client introduces a trade. Failure to correctly document this can disproportionately harm customers when disputes arise because it conceals what the broker is actually recommending. The 105 trades found mismarked by Irving were actually solicited, meaning that Irving was the one to introduce and recommend the purchases to his customers.

Irving has not admitted, nor denied the findings and has consented to a $5,000 fine and a suspension of his ability to practice for one month from 8/6/ 2018 to 9/5/2018.

If you invested money through Daniel Irving, we would like to talk to you. Fishman Haygood Investment Fraud Lawyers are experienced securities litigators. We have helped hundreds of clients recover their losses that were due to broker fraud or negligence. Contact us today to discuss your options and receive a free consultation.

Fishman Haygood Investment Fraud Lawyers represents investors who have suffered investment losses in claims against their brokers or financial advisors. Our experienced attorneys have brought securities fraud cases in state and federal courts across the nation, as well as in FINRA arbitration. We work to help investors recoup their losses.

Of course, all cases are different. For that reason, we analyze each client’s matter individually and provide our personalized evaluation only after considering all of the facts and circumstances of all possible claims. If you or someone you know is the victim of securities fraud, please contact a Fishman Haygood Investment Fraud lawyer today.