Robert Daly Barred by FINRA

Robert Daly (CRD #: 3111426), a broker formerly registered with Xtellus Capital Partners, has been barred by FINRA. This is according to his BrokerCheck record, accessed on November 1, 2024. Keep reading if you have questions regarding his alleged conduct. 

Bar by FINRA

On October 8, 2024, Robert Daly consented to the entry of findings that he allegedly failed to provide information and documents requested by FINRA in connection with an investigation into potentially undisclosed private securities transactions.

FINRA indefinitely barred Robert Daly. You can read the Letter of Acceptance, Waiver & Consent (AWC) here.

FINRA Rule 8210

FINRA Rule 8210 requires members to provide documents, information, and testimony upon request by FINRA.

FINRA Rule 2010

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

Investor Allegations 

On September 20, 2024, multiple investors filed a dispute naming Robert Daly in allegations that purchases of First Republic Bank shares in 2021 were not in the investors’ best interests. This dispute is pending.

On July 17, 2024, an investor alleged that Robert Daly misrepresented liquidity restrictions on alternative investments. The dispute was denied, but investors should know that firms can deny disputes without any external review. Investors can still recover following a denial. 

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must disclose their conflicts of interest and thoroughly research investments to ensure their recommendations suit an investor’s goals.

Misrepresentation 

FINRA Rule 2020 prohibits the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Background Information 

Robert Daly has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in California, Florida, and New York. 

During his 25 years of experience, he has registered with five firms: 

• Xtellus Capital Partners (CRD #: 156048) 
• Morgan Stanley (CRD #: 149777) 
• JP Morgan Securities (CRD #: 79) 
• UBS Financial Services (CRD #: 8174) 
• Bear Stearns & Co. (CRD #: 79) 

Kurta Law Can Help 

If you worked with Robert Daly and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.