Securities Lawyers Blog
The law offices of Gana Weinstein LLP are currently investigating claims that advisor Robert Daly (Daly) has been accused by a financial regulatory of engaging in private securities transactions a/k/a selling away. Daly was terminated by his employer and sanctioned by a regulator concerning accusations of engaging in undisclosed investment activities including undisclosed outside business activities (OBAs). According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Daly was employed by Xtellus Capital Partners, Inc. (Xtellus Capital) at the time of the activity. If you have been a victim of Daly’s alleged misconduct our firm may be able to assist you in recovering funds.
According to Daly’s disclosures he is also engaged in several OBAs including Latigo Ventures, a financial consulting and capital raising business venture. Also disclosed are The Latigo Group, Lipper/Daly Productions Latigo Filsm, Ava Living Recovery, and United Friends of Children. It is unknown whether the accusations relate to any of these entities or businesses.
In October 2024 FINRA barred Daly after Daly consented to the sanction and to the entry of findings that he refused to produce information and documents requested by FINRA during an investigation that originated from a regulatory tip it received related to possible undisclosed private securities transactions.
In addition, Daly also has a customer complaint in September 2024 claiming that purchases in First Republic Bank shares were not in the clients’ best interests. 2021. The claim is currently pending.