Patrick Daley Faces 30-Day FINRA Suspension
Patrick Daley (CRD #: 4284221), a broker registered with Roselaine Securities, will be temporarily suspended from FINRA, according to his BrokerCheck record, accessed on June 3, 2022. Keep reading if you have questions about Patrick Daley’s conduct as a broker.
Suspension from FINRA
On May 12, 2022, Patrick Daley consented to the entry of findings that he engaged in outside business activities without properly notifying his firm, Roselaine Securities.
An Agreement of Acceptance, Waiver & Consent (AWC) alleges that in April 2019, Patrick Daley orally informed his firm that he had invested in a meat processing company, but did not disclose that he had become an owner and board member of the company. He allegedly also did not disclose that he made business decisions in conjunction with the other owners, including hiring decisions and equipment purchasing.
The AWC further alleges that, in March 2020, Patrick Daley became an owner of a real estate investment company, again orally informing the firm that he invested in the company but failing to disclose that he engaged in management and decision making along with the other owners.
Patrick Daley allegedly did not provide written notice to the firm regarding outside business activities until September 2021, following FINRA inquiries.
The AWC concludes that these alleged outside business activities violate FINRA Rules 3270 and 2010.
FINRA Rules 3270 and 2010
FINRA Rule 3270 requires that brokers disclose in writing any business activities they participate in outside of their firm. Brokers must disclose their role in the transaction and what compensation they will receive to ensure it doesn’t conflict with or compromise their responsibilities to their firm.
FINRA Rule 2010 requires that brokers maintain high standards of commercial honor and ethical behavior.
Patrick Daley consented to the following sanctions:
- $5,000 fine
- 30-calendar day suspension from associating with FINRA members in all capacities
His suspension will begin on June 6, 2022, and end on July 5, 2022.
You can read the full AWC here.
Other Outside Business Activities
According to his detailed BrokerCheck report, Patrick Daley engages holds the following positions:
- Full owner of PRD Development Inc., a holding company.
- 50% stake in Conln HOldings - real estate advisory and development
- 33% owner of Project Meats, a meat processing company
- 30% owner of Tur Partners - consulting / advisory firm
- 23.4% Daley & Tang Partners
- Authorized signatory for 18 Isto Lane
- Charity board member for the Chicago Shakespeare Theatre.
- Charity board member for Youth Impact Program, a children’s educational and mentorship organization.
Patrick Daley has passed the following exams:
- Series 63 - Uniform Securities Agent State Law Examination
- SIE - Securities Industry Essentials Examination
- Series 7 - General Securities Representative Examination
- Series 79 - Investment Banking Registered Representative Examination
- Series 24 - General Securities Principal Examination
Patrick Daley is a registered broker only in Illinois.
In the past, he has worked with eRoom Securities (CRD#:41257) and Bear, Stearns & Company (CRD#:79).
Kurta Law Can Help
If you worked with Patrick Daley and you have concerns about your investments, please contact us today at 877-600-0098 or email@example.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.