Daniel Whiting Allegedly Engaged in Unauthorized Trading

Daniel Whiting (CRD #: 5771724), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, allegedly committed several FINRA violations, according to his BrokerCheck record, accessed on July 13, 2022. If you want to know more about Daniel Whiting’s conduct as a broker, read on.

Investor Dispute

In a dispute filed on May 5, 2022, an investor alleges that Daniel Whiting made unsuitable investment recommendations and misrepresentations, failed to follow instructions, and engaged in unauthorized trading from May 2021 to May 2022. This dispute was denied by the firm.

However, investors should know that firms can deny disputes without allowing an outside review. Investors may be able to recover their losses after a denial by pursuing FINRA arbitration.

FINRA Rule 2111 and 2020

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must consider the information contained in an investor’s profile, such as their tax status, age, risk tolerance, and other characteristics.

Misrepresenting investments violates FINRA Rule 2020, which prohibits the use of manipulative and deceptive tactics to influence the purchase and sale of securities.

FINRA Rules 3260

FINRA Rule 3260 limits how brokers can execute their trading discretion. Brokers can only conduct discretionary trading in accounts that have been approved by both their firm and their client.

Background Information

Daniel Whiting has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 10 – General Securities Sales Supervisor – General Module Examination
• Series 9 – General Securities Sales Supervisor – Options Module Examination

Daniel Whiting is a registered broker in 20 states and the District of Columbia. He is also a registered investment adviser in Connecticut and Texas.

He has also worked for Strategic Advisers (CRD#:104555) and Fidelity Brokerage Services (CRD#:7784).

Kurta Law Can Help

If you worked with Daniel Whiting and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.