Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Danny Spiegel (Spiegel), previously associated with Sa Stone Wealth Management Inc., has at least one disclosable event. These events include one tax lien, alleging that Spiegel recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on January 14, 2025.
The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative and cease-and-desist proceedings be, and hereby are, instituted against Danny Z. Spiegel (‘Spiegel’ or ‘Respondent’). In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the ‘Offer’) which the Commission has determined to accept. On the basis of this Order and Respondent’s Offer, the Commission finds that these proceedings arise out of unregistered broker activity by Spiegel who, between at least June 2019 and March 2020 (the ‘Relevant Period’), solicited investors on behalf of StraightPath Venture Partners, LLC (‘StraightPath’). StraightPath was an entity that offered investments in privately offered membership interests in limited liability companies (the ‘StraightPath Funds’) that each purportedly owned shares of private issuers that had prospects of becoming publicly traded issuers (‘Pre-IPO Issuers’). During the Relevant Period, Spiegel successfully solicited, either directly or through other unregistered agents he compensated, at least $6 million in investments for the StraightPath Funds from at least 80 investors. Through his unregistered conduct brokering transactions between investors and the StraightPath Funds, Spiegel received over $142,000 in transaction-based compensation. As a result of this conduct, Spiegel willfully violated Section 15(a) of the Exchange Act.
