Finra bars ex-Wells Fargo broker with 41 years in the securities industry

Edward O. Daniel was barred after declining to participate in Finra investigation into a customer dispute that was settled for $225,000

Sep 10, 2018 @ 2:03 pm

By Sarah Min

The Financial Industry Regulatory Authority Inc.has barred a Wells Fargo broker with 41 years' experience for not taking part in an investigation into allegations that he made unsuitable investments for a client.

Texas-based broker Edward O. Daniel spent seven years at Wells Fargo Advisors before he agreed to resign in September 2016. A little more than a month after his resignation, Wells Fargo disclosed a customer arbitration complaint against Mr. Daniel that alleged the broker made unsuitable investments for the client between 2011 and 2015.

According to BrokerCheck, Mr. Daniel has had eight disclosures, all customer disputes, over the course of his career. After he was left Wells Fargo in 2016, his customer dispute was settled for $225,000, according to BrokerCheck.

Finra barred Mr. Daniel after he failed to cooperate with its investigation into his conduct with the Wells Fargo customer.

Mr. Daniel first joined the securities industry in 1975. Before joining Wells Fargo, he spent most of his career with Morgan Stanley and Prudential Securities.

(More: Finra bars former Wells Fargo broker terminated for allegedly asking a client for a loan)

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