FINRA barred Robert Anthony Daly, formerly of Morgan Stanley in Los Angeles, for refusing to cooperate with an investigation into potential undisclosed private securities transactions.
According to his file, Robert Daly (CRD #3111426) faces a pending customer dispute alleging that purchases in First Republic Bank shares were not in the clients' best interests.
Daly, along with fellow Los Angeles-area ultra-wealthy client brokers Alexander Kadish, JP Garofalo, and Nicholas Davey, reportedly left Morgan Stanley in March 2023 to work with or consult with First Republic's securities and investment management companies. Only Daly stands accused of wrongdoing.
Daly himself did not register with First Republic and instead joined Xtellus Capital Partners after First Republic began to collapse shortly after he left Morgan Stanley.
Accordingly, the dispute alleging that Daly effected purchases in First Republic Bank that were not in the client's best interest takes on significant meaning, given that Daly himself served as an outside consultant for First Republic.
If you invested with Robert Daly or with any broker or investment adviser through undisclosed private securities transactions in First Republic Bank or any other securities product whose collapse has proven harmful to your investments or interests, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.