Radcliffe Robert Daly (CRD #4663605, Granger, Indiana)
was assessed a deferred fine of $15,000 and suspended by FINRA for nine months for allegedly mismarking order tickets for solicited transactions as "unsolicited."
FINRA's findings stated that Daly recommended a penny stock to many clients and continued to solicit purchases of the stock and marked the trades as "unsolicited" even after his member firm told him that he could not do so because it was a penny stock and not supported by firm research. By mismarking these order tickets, Daly created false books and records.
FINRA also stated that Daly participated in private securities transactions without providing written notice or reporting the transactions to his firm. FINRA's findings also included that Daly exercised discretion in five clients’ accounts without obtaining the cleints’ written authorization and his firm’s written acceptance of that authorization.
This suspension is in effect from November 17, 2014, through August 16, 2015.
(FINRA Case #2014039820601)
Radcliffe Robert Daly was registered in the securities industry for ten years and was previously registered with the following securities firm(s):
03/2014 - 06/2014 IFS SECURITIES (CRD# 40375) - GRANGER, IN
07/2003 - 01/2014 AMERIPRISE FINANCIAL SERVICES, INC. (CRD# 6363) - GRANGER, IN
07/2003 - 07/2006 IDS LIFE INSURANCE COMPANY (CRD# 6321) - MINNEAPOLIS, MN
This summation of information was obtained from FINRA's Website under "Disciplinary and Other Actions, January, 2015" and ends here.
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