On July 29, 2021, DANIEL JAMES O'NEILL (DAN O'NEILL CRD#: 1358245), according to FINRA’s BrokerCheck, was named a respondent in a FINRA complaint alleging that he excessively and unsuitably traded one of his client's accounts. O’Neill was formerly listed with AEGIS CAPITAL CORP. of Melville, New York.
The FINRA complaint alleges that DANIEL JAMES O'NEILL exercised de facto control over the trading in the client's account, controlling the volume and frequency of trading, deciding what securities to buy and sell, the quantities, the price, and when each trade would occur.
According to FINRA, DAN O'NEILL also allegedly exercised control when he executed unauthorized trades in the client's account. The trading in the client's account, according to the FINRA report, was also excessive when measured against the annualized turnover rate and cost-to-equity ratio.
FINRA states that DANIEL JAMES O'NEILL alleged intentional, active trading caused the client to incur $140,109 in costs and $147,411 in losses, while generating substantial commissions for O'Neill. O'Neill's trading also generated gross sales credits and commissions of $110,446, of which O'Neill received at least $66,000.
According to FINRA, DANIEL J. O'NEILL allegedly did not have a reasonable basis to believe that the level of trading he recommended was suitable for the client. The complaint also alleges that O'Neill effected trades in the client's account without first obtaining authorization or consent for the trades from the client.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, DANIEL JAMES O'NEILL, has been in the securities industry for 36 years and has 9 disclosures on his FINRA CRD report. O’Neill is currently not registered with any firm. O’Neill was previously listed with 13 firms, the most recent are listed below:
04/23/2013 - 07/29/2021 AEGIS CAPITAL CORP. - MELVILLE, NY
03/17/2011 - 05/29/2013 LADENBURG THALMANN & CO. INC - MELVILLE, NY
If you’ve experienced financial losses due to the actions or recommendations of the former Aegis Capital of Melville, New York, broker, DANIEL JAMES O'NEILL, contact Soreide Law Group and speak at no cost to an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee basis and represents clients nationwide before FINRA.
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