Diane Daly Suspended by FINRA for Alleged Failure to Supervise

Diane Daly (CRD #: 2372551), a broker formerly registered with Canaccord Genuity, has been suspended by FINRA, according to her BrokerCheck record, accessed on September 20, 2025. Read on to learn more about her alleged conduct as a broker.

FINRA Suspension

On June 16, 2025, Diane Daly consented to the entry of findings that, as Canaccord Genuity’s Chief Compliance Officer, she allegedly failed to reasonably supervise the firm’s surveillance of its securities transactions from February 2017 to December 2022.

According to a Letter of Acceptance, Waiver & Consent (AWC), the firm’s trading compliance group allegedly reviewed and investigated over 150 surveillance reports, most of which were generated on a daily basis, for potential market manipulation and other regulatory concerns.

During the relevant period, Diane Daly allegedly failed to determine that the head of this group or its members were qualified through either experience or training to carry out the surveillance of the firm’s trading activity.

Despite the firm allegedly trading billions of dollars of low-priced securities each year, the trading compliance group allegedly escalated only 20 instances of potentially violative activity from 2017-2020.

AML Compliance Program Allegations

From at least October 2016 to December 2022, Diane Daly allegedly failed to implement a reasonably designed anti-money laundering (AML) compliance program in her role as Canaccord Genuity’s Anti-Money Laundering Compliance Officer (AMLCO). The AWC alleged that she failed to do the following:

• Implement policies and procedures designed to detect suspicious transactions by unreasonably excluding securities with low trading volumes
• Oversee and enforce the trading compliance group’s review of daily AML reports
• Monitor and review the generation of AML reports concerning the activity of correspondent accounts for foreign financial institutions
• Oversee audits of the firm’s AML compliance program
• Implement ongoing AML training for personnel
• Develop risk-based procedures for conducting due diligence on customer transactions

The AWC concluded that these allegations constituted violations of FINRA Rules 3110, 3310, and 2010.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision over their employees in order to detect and prevent violations of securities regulations. Firms must appoint supervisors and provide them with Written Supervisory Procedures (WSPs) to follow.

FINRA Rule 3310

FINRA Rule 3310 requires firms to have anti-money laundering programs in place in order to comply with the Bank Secrecy Act. The Bank Secrecy Act requires financial institutions to report suspicious transactions. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

Diane Daly consented to the following sanctions:

• 12-month suspension from associating with FINRA members in a principal capacity and as an AMLCO
• $10,000 fine
• Requalification as a principal prior to acting in a principal capacity with a FINRA member

Her suspension took effect on June 16, 2025, and will end on June 15, 2026. You can access a copy of the AWC here.

Background Information

Diane Daly has passed the following exams:

• Compliance Officer Examination – Series 14
• General Securities Sales Supervisor – General Module Examination – Series 10
• General Securities Sales Supervisor – Options Module Examination – Series 9
• Registered Options Principal Examination – Series 4
• General Securities Principal Examination – Series 24
• Operations Professional Examination – Series 99TO
• Investment Banking Registered Representative Examination – Series 79TO
• Municipal Securities Representative Examination – Series 52TO
• Securities Trader Exam – Series 57TO
• Securities Industry Essentials Examination – SIE
• Limited Representative-Equity Trader Exam – Series 55
• General Securities Representative Examination – Series 7
• Investment Company Products/Variable Contracts Representative Examination – Series 6
• Uniform Investment Adviser Law Examination – Series 65
• Uniform Securities Agent State Law Examination – Series 63

She previously worked for the following firms:

• Canaccord Genuity (CRD#:1020) 
• Canaccord Genuity Wealth Management (USA) (CRD#:7449)
• Canaccord Genuity Securities (CRD#:24790)
• Genuity Capital Markets USA (CRD#:135674)
• Linsco/Private Ledger Corporation (CRD#:6413)
• Putnam Mutual Funds Corporation (CRD#:7325) 

Kurta Law Can Help

If you worked with Diane Daly 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 that 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.