Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Mackle (Mackle), previously associated with Md Global Partners, LLC, has at least one disclosable event. These events include one regulatory event, alleging that Mackle recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on March 03, 2023.
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 pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 (‘Exchange Act’) against Silver Edge Financial LLC (‘Silver Edge’) and additionally pursuant to Section 203(f) of the Investment Advisers Act of 1940 (the ‘Advisers Act’) against Daniel J. Mackle, Sr. (‘Mackle’). The Commission finds that this proceeding arises out of Respondents’ sale of membership interests in two pooled investment vehicles – the Silver Edge Pre-IPO Fund LLC and the Silver Edge Venture Fund LLC (the ‘Silver Edge Funds’) – that were formed to invest in pre-IPO securities. Since January 2019, Silver Edge and its CEO, Daniel Mackle, procured interests in a portfolio of pre-IPO shares which they offered to investors as membership interests in the Silver Edge Funds. Silver Edge is the Manager of the Silver Edge Funds and Mackle was the sole member of Silver Edge. During the relevant period, Silver Edge and Mackle sold over $65 million worth of interests in the Silver Edge Funds to investors with the assistance of a sales force of unregistered brokers. Respondents marketed and sold series interests in the Silver Edge Funds nationwide and were paid management fees as a percentage of the amounts sold. In so doing, Respondents operated as unregistered brokers, in willful violation of Section 15(a) of the Exchange Act.