Daniel James O’Neill, Formerly of NYLife Securities, Named in FINRA Complaint Alleging Excessive and Unsuitable Trading

O’Neill was discharged from Aegis Capital Corporation for failing to keep the firm updated on his enforcement investigation.

Daniel James O’Neill (CRD#: 1358245) was previously registered as a broker with Aegis Capital Corp., from 2013 until 2021. Previously, O’Neill was registered as a broker with Landenburg Thalmann & Co., Inc.

O’Neill has ten disclosures on his BrokerCheck report.

July 2021 Regulatory Judgment

Status: Pending

Initiated By: FINRA

Allegations: O’Neill was named a respondent in a FINRA complaint alleging that he excessively and unsuitably traded one of his customer’s accounts. The complaint alleges that O’Neill exercised de facto control over the trading in the customer’s account, controlling the volume and frequency of trading, deciding what securities to buy and sell, the quantities, the price, and when each trade would occur. O’Neill also exercised control when he executed unauthorized trades in the customer’s account. The trading in the customer’s account was also excessive when measured against the annualized turnover rate and cost-to-equity ratio. O’Neill’s intentional, active trading caused the customer to incur $140,109 in costs and $147,411 in losses, while generating substantial commissions for O’Neill. O’Neill’s trading generated gross sales credits and commissions of $110,446, of which O’Neill received at least $66,000. O’Neill did not have a reasonable basis to believe that the level of trading he recommended was suitable for the customer. The complaint also alleges that O’Neill effected trades in the customer’s account without first obtaining authorization or consent for the trades from the customer.

July 2021 Employment Separation After Allegations

Firm Name: Aegis Capital Corp

Termination Type: Discharged

Allegations: Representative failed to keep the firm apprised of the status of the pending enforcement investigation which resulted in the initiation of a formal enforcement proceeding against the representative. Representative named in an enforcement proceeding alleging conduct inconsistent with firm standards.

February 2021 Customer Dispute

Status: Pending

Allegations: Time frame: unspecified. Claimant alleges unsuitable investments

September 2019 Judgment / Lien

Judgment/Lien Amount: $24,923.92

Judgment/Lien Type: Tax

September 2019 Judgment / Lien

Judgment/Lien Amount: $2,008.82

Judgment/Lien Type: Tax

December 2017 Judgment / Lien

Judgment/Lien Amount: $6,060.07

Judgment/Lien Type: Tax

October 2016 Judgment / Lien

Judgment/Lien Amount: $40,864.00

Judgment/Lien Type: Tax

February 2016 Customer Dispute

Status: Settled

Allegations: Time frame: May 2013 through June 2015 allegations include unauthorized trades and misuse of margin.

Settlement Amount: $12,500.00

Broker Comment: I deny all claims and allegations, I have been a registered representative since February 1986 and this is the first time I have ever received a customer complaint. I realize the settlement amount was less costly and time efficient, in lieu of going to arbitration.

May 2013 Judgment / Lien

Judgment/Lien Amount: $30,000.00

Judgment/Lien Type: Civil

May 2012 Judgment / Lien

Judgment/Lien Amount: $56,151.00

Judgment/Lien Type: Civil

The Sonn Law Group is currently investigating allegations surrounding Daniel James O’Neill. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.