Daniel Herraiz (CRD #7005836) Has Regulatory and Criminal Disclosures on FINRA BrokerCheck

Daniel Herraiz (CRD #7005836) is a broker with disclosures on FINRA BrokerCheck. We reviewed his BrokerCheck report on March 25, 2026. It reflects one regulatory event and one criminal disclosure. If you invested with Daniel Herraiz and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Disclosures

Daniel Herraiz’s FINRA BrokerCheck Report reflects one regulatory disclosure. A summary of the disclosure is below:

On January 5, 2026, the Florida Department of Financial Services initiated a regulatory action involving Daniel Herraiz. Daniel Herraiz’s FINRA BrokerCheck report states the matter concerned continuing education requirements under Section 626.2815, Florida Statutes, and Rule 69B-228.220, Florida Administrative Code, for the compliance period ending November 30, 2025. BrokerCheck lists the matter as final. It says the case resolved by stipulation and consent on January 12, 2026, with a $250 fine.

Criminal Charges

Daniel Herraiz’s FINRA BrokerCheck Report reflects one criminal disclosure. A summary of the disclosure is below:

BrokerCheck states formal charges were brought on May 29, 2013, in state court in Miami-Dade County, Florida. The charge was grand theft in the third degree. Daniel Herraiz’s FINRA BrokerCheck report lists the status as final. It states the matter reached a discharged / no action disposition on July 9, 2013.

Rule Summary #1: FINRA Rule 1240 (Continuing Education)

FINRA Rule 1240 (Continuing Education) requires registered persons to complete continuing education. A disclosure about missed education requirements can raise questions about whether a representative stayed current with required training.

Rule Summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) requires firms and associated persons to observe high standards of commercial honor. Disclosure events can matter to investors because they may bear on compliance, supervision, and professional conduct.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

1. Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

2. Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

3. Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

4. Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Daniel Herraiz:

Is currently registered with Raymond James & Associates, Inc.

Has passed the Securities Industry Essentials (SIE) exam and Series 7. He has also passed Series 66.

Was previously registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated.

Kurta Law Can Help

If you have worked with Daniel Herraiz and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. A securities attorney can help you assess potential causes of action and determine whether your losses may be recoverable through FINRA arbitration or other avenues. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Security Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.