FINRA Bars Morgan Stanley Advisor Robert Daly Jr.
According to public records on October 8th, 2024, the securities regulator FINRA has reportedly barred Robert Daly Jr. (CRD#: 3111426 ) from working in the securities industry. Daly reportedly refused to produce information and documents requested by FINRA during an investigation related to possible undisclosed private securities transactions.
Private Securities Transactions
FINRA Rule 3280 requires brokers and brokerage firm employees to notify their firms in writing before participating in any private securities transactions. This rule ensures transparency by requiring them to disclose the deal details, their role, and any expected compensation.
This rule helps protect investors by ensuring financial professionals follow regulations, manage conflicts of interest, and prioritize their clients’ best interests, fostering trust and accountability in the financial industry.
FINRA BrokerCheck – Robert Daly Jr.
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
According to his FINRA broker report, Robert Daly Jr. has two customer complaints on his record. In a complaint filed in 2024, “Clients’ attorney alleges, inter alia, that purchases in First Republic Bank shares were not in the clients’ best interests.”
In a second complaint filed in 2024, a client reportedly alleged “that the liquidity restrictions on the alternative investments recommended to him were misrepresented.”
Daly was reportedly registered with the following firms during his career.
05/08/2023 – 10/04/2024 XTELLUS CAPITAL PARTNERS, INC. (CRD#:156048) NEW YORK, NY
02/17/2016 – 03/27/2023 MORGAN STANLEY (CRD#:149777) Los Angeles, CA
03/09/2009 – 02/29/2016 J.P. MORGAN SECURITIES LLC (CRD#:79) LOS ANGELES, CA
Regulation Best Interest
Under the “Regulation best interest” standard, broker-dealers are obligated to perform due diligence when evaluating any investment. If your financial advisor fails to perform due diligence on an investment before recommending it to you, they could be held liable for investment losses.
If your advisor unsuitably recommended an investment offering and you lost money, the securities attorneys at The White Law Group may be able to file a complaint for you. You may be able to recover losses by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
Free Consultation with National Securities Attorneys
If you have suffered investment losses with Robert Daly Jr. and Morgan Stanley, the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
About the White Law Group
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.
Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.
With over 30 years of securities law experience, The White Law Group has the expertise to help investors to recover their securities fraud losses.
Last modified: November 5, 2024
