FINRA Bars Former Morgan Stanley Advisor
Robert Daly declined to provide information for a probe related to possible undisclosed private securities transactions, FINRA said.
The Financial Industry Regulatory Authority announced it has barred a former Morgan Stanley broker and investment advisor from the industry after he declined to provide information for a FINRA investigation into possible undisclosed private securities transactions.
Robert Anthony Daly, whose registration Morgan Stanley terminated last year, accepts and consents to FINRA’s findings and to a bar from associating with any FINRA firm, without admitting or denying the findings, the authority disclosed Tuesday.
The matter arose from a regulatory tip, FINRA said.
A Morgan Stanley spokesperson told ThinkAdvisor by email Wednesday that the company had no comment.
Daly became registered through Morgan Stanley in 2016; in March last year, the company terminated his registration with FINRA. Daly later became registered through Xtellus Capital Partners; that registration ended Friday, according to his FINRA BrokerCheck record.
The former broker violated FINRA rules in August by failing to provide requested information and documents, the authority reported. He has agreed to be barred from associating with any FINRA firm in any capacity.
Daly previously was associated with J.P. Morgan, UBS and Bear Stearns.
In a customer dispute pending with FINRA, a lawyer alleged that purchases in First Republic Bank shares were not in their clients’ best interests, according to BrokerCheck.
Photo: FINRA