April 17, 2016
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
FINRA records are public and can be accessed on the BrokerCheck website.
The FINRA records of Daniel I. McCourt indicate that in February 2016 he was fined $50,000 and suspended for two years to resolve allegations that he participated in a private securities transaction outside the scope of his association with his firm and falsified documents to a mortgage company on behalf of one of his clients to help the client qualify for a loan. FINRA Case 2012030670402.
McCourt, who was registered with Foothill Securities from 9/1985-6/2013, has settled three customer disputes and is currently named in pending FINRA arbitration #15-00569. The customer in that case alleges that McCourt solicited three loans from the customers. Two were personal and one related to Surf City Coffee, an outside business activity. Damages of $220,634 are alleged.
If you have questions about losses in an account handled by McCourt, call to discuss your options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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