Former Foothill Securities broker Daniel Irvin McCourt agreed to a settlement with FINRA following allegations that he “participated in private securities transactions without providing prior written notice to his member firm” and “falsified documents to a mortgage company on behalf of one of his clients at his member firm.” FINRA alleged that between May 3, 2005 and May 29, 2009, McCourt (through his coffee business) accepted investments from Foothill Securities customers in the form of long-term promissory notes. As of the date of the settlement, McCourt had only paid back a small portion of the total principal invested.
According to the Order Accepting Offer of Settlement with FINRA (No. 2012030670402), McCourt agreed to be “suspended from association with all FINRA members in all capacities for two years” and was “fined $50,000.”
According to his FINRA BrokerCheck report, McCourt was a registered representative of Foothill Securities from September 1985 through June 2013. The Report indicates that he was “permitted to resign” from Foothill Securities in June 2013 as a result of the “possible failure to follow company policy/procedure.”
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