Robert Anthony Daly, also known as Bob Daly Jr. and Bobby Daly Jr., of Los Angeles, California, has been permanently barred by Financial Industry Regulatory Authority (FINRA). Daly, previously registered with Morgan Stanley, faced regulatory action after refusing to provide documents and information requested during an investigation into possible undisclosed private securities transactions. The investigation began following a regulatory tip regarding his involvement in these transactions. Letter of Acceptance, Waiver, and Consent (AWC) No. 2023080385501.
On August 1, 2024, FINRA requested information and documents under Rule 8210, which requires individuals to cooperate with investigations. On August 29, 2024, Daly, through his legal counsel, confirmed he would not comply. His refusal constituted a violation of Rule 8210 along with Rule 2010. Without admitting or denying the findings, Daly consented to the indefinite bar, which applies across all capacities. The sanction was imposed on October 8, 2024.
In addition to the regulatory action, Daly has faced customer complaints. On September 20, 2024, customers alleged that purchases of First Republic Bank shares were not in their best interests. This complaint, involving equity products, remains pending. On July 17, 2024, a separate complaint claimed that liquidity restrictions on hedge funds were misrepresented. Morgan Stanley denied this allegation, and no compensation was awarded.
Daly was associated with Morgan Stanley from February 17, 2016, to March 27, 2023. He subsequently registered with Xtellus Capital Partners Inc. in New York, NY, from May 8, 2023, to October 4, 2024.
