Written by The White Law Group• July 21, 2023• 5:11 pm• Broker Investigations, FINRA SEC Sanctions

Darien Bonney Barred by FINRA

Darien Bonney Allegedly Sold Unregistered Securities to Clients

According to public records on FINRA’s website, Broker Darien Bonney (CRD#: 4899007) was barred from the securities industry after allegations of private securities transactions. Bonney was reportedly suspended in May 2022, and after allegedly failing to provide information in FINRA’s investigation, the bar became effective on August 9, 2022. FINRA is the self-regulator who oversees brokers and brokerage firms.

Table of Contents

According to his FINRA broker profile, Bonney reportedly has five customer disputes on his record. It appears that all five complaints allege losses in private securities (promissory notes) involving Spyglass and/or MERCO. The allegations involve a “risky, unregistered investment,” according to one complaint. Another customer alleged that Bonney asked them to invest in a private investment “in Spyglass Financial Strategies, which was a business owned by the rep, who represented to the complainant that the investment related to oil and involved no risk. It is further alleged that the terms of the promissory note that the rep drafted have not been met, which has resulted in financial losses to the complainant.” Three of the complaints are reportedly pending, and two were settled, according to FINRA.

His former employer, MML Investor Services, reportedly discharged Bonney in 2022 for allegations of “an undisclosed outside business activity and unauthorized investment activity.”

Private Securities Transactions – Selling Away

When a FINRA registered representative conducts business outside the scope of the brokerage firm where they are registered, the act can be considered “selling away.” Some brokers, looking to supplement their income, will go outside the traditional market, trying to find other products to push.

If a registered broker “sells away” from their firm, the brokerage firm may still be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.

FINRA BrokerCheck – Darien Bonney

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.

BrokerCheck provides investors with detailed information about the professional history, qualifications, and regulatory actions of brokers and brokerage firms. Investors can use the tool to verify whether a broker or brokerage firm is registered with FINRA. It’s also a great way to review their employment history, licensing status, and any regulatory actions or complaints filed against them.

According to his FINRA broker report, Darien Bonney was affiliated with the following FINRA-registered broker dealers during his career:

04/02/2007 – 01/27/2022, MML INVESTORS SERVICES, LLC (CRD#:10409), SCOTTSDALE, AZ,
B, 05/12/2005 – 07/25/2006, NYLIFE SECURITIES INC. (CRD#:5167), SCOTTSDALE, AZ

Recovery of Investment Losses

The White Law Group is investigating potential securities claims involving Darien Bonney and the liability his employers may have for failure to supervise him. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington. We represent investors in all 50 states including Arizona. Our attorneys have recovered millions of dollars from many brokerage firms in the past.