Daniel B. Irving of Erie Pennsylvania a stockbroker formerly registered with PNC Investments has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he mismarked customer’s investment orders as having been unsolicited. FINRA Enforcement Action No. 2014043146201 (July 12, 2018).
According to the AWC, FINRA launched an investigation into Irving’s activities following receipt of the firm’s U5 submission which confirmed Irving had been terminated by the firm on September 30, 2014, during an internal investigation into Irving’s possible trading in PNC customer accounts on an unauthorized basis.
FINRA evidently discovered that between January of 2013 and August of 2013, during the time that Irving was associated with PNC Investments, he mismarked one-hundred five trades in accounts owned by five customers by stating that their trades were not solicited when they were, in actuality, solicited by Irving. Apparently, those trades concerned exchange traded fund and mutual fund purchases that customers knew nothing about until they had been recommended by Irving. FINRA found that Irving led PNC investments to maintain records and books that were inaccurate as a result of his mismarking of the customers’ trades. FINRA found that Irving’s conduct was violative of FINRA Rule 2010 and 4511(a).
Irving has been employed by FSC Securities Corporation since December 3, 2014.
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