Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel King (King), currently associated with Emerson Equity LLC, has at least 2 disclosable events. These events include 2 regulatory events, alleging that King recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on January 02, 2024.
On July 17, 2023, FINRA accepted a Letter of Acceptance, Waiver, and Consent in which King, without admitting or denying them, consented to the entry of findings that he violated FINRA Rules 2111 and 2010 during the period December 2016 to February 2019 by recommending the unsuitable use of margin to effect trades in the accounts of two customers who were not sophisticated investors; that he recommended the use of margin in his customers’ accounts to leverage additional buying power while also employing a short-term trading strategy; and that his unsuitable recommendations caused the customers to pay more than $46,000 in commissions, fees, and margin interest. Such conduct constitutes unethical practices in the securities business.