PTI Securities & Futures L.P., of Chicago, Illinois, was subject of sanctions sought by the State of Illinois Secretary of State Securities Division, alleging that the firm’s chief compliance officer, Daniel John Haugh, effected an unauthorized transfer of a customer’s funds, causing the customer to sustain $90,000.00 in losses. Case No. 1500161 (Jan. 29, 2016).
According to the State of Illinois Secretary of State Securities Division, Haugh failed to appropriately supervise wire transfers, causing a wire transfer to be made from an account that the customer did not authorize; the customer’s account was apparently hacked to initiate the transaction.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Hough has also been subject of a customer initiated investment related arbitration claim, in which the customer sought $2,500,000.00 in damages supported by allegations that he was liable for the customer’s investment account mismanagement. Case No. 17-01171 (May 11, 2017).
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