Broker Investigation: Daniel Irving

Daniel Irving (CRD#: 4773478) is a FINRA broker and registered investment advisor. Currently, Mr. Irving is employed at FSC Securities Corporation based in Erie, Pennsylvania. Recently, FINRA took disciplinary action against this broker for misconduct that occurred in 2014, when he was a securities representative for PNC Investments.

In September of 2014, PNC Investments permitted Daniel Irving to resign after allegations arose that he made unauthorized trades on a customer’s account. FINRA has now concluded its investigation into this alleged misconduct. On July 12th, 2018, Mr. Irving was suspended from the securities industry for 30 days and order to pay a $5,000 fine.

Broker Suspension: Daniel Irving

According to the terms of the settlement reached by FINRA and the former PNC Investments broker, Mr. Irving mismarked at least 105 separate transactions between 2013 and 2014. These trades were improperly marked as ‘unsolicited’. However, contrary to the information recorded in the firm’s books, these transactions were proposed to customers by Mr. Irving, not the other way around.

This is a serious issue. There is a big difference between solicited and unsolicited trades. Should a dispute arise, inaccurate information in the brokerage firm’s books will heavily disadvantage the customer. Brokers have a professional obligation to accurately mark all trades. Without admitting or denying making unauthorized transactions, Mr. Irving consented to the suspension and $5,000 fine.

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