Ex-PNC Bank broker suspended over alleged mismarked trades

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A former broker with PNC Investments has agreed to a one-month suspension and a $5,000 fine to settle allegations that he mismarked 105 trades in five PNC customer accounts, according to his recent settlement with FINRA.

Daniel Irving mismarked the trades as unsolicited when in fact they were solicited, the regulator claimed.

The irregularities occurred from January 2013 through August 2014.

The mismarked trades allegedly included customer purchases of various mutual funds and exchange-traded funds that were unknown to the customers prior to Irving recommending the securities, according to FINRA.
“By mismarking the trades, Irving caused the firm to keep inaccurate books and records,” FINRA said.

Irving, who agreed to the sanctions without admitting or denying FINRA’s findings, could not be reached for comment. His attorney, Nancy Henrickson of Chicago law firm Kaufman Dolowich Voluck, did not respond to an email.

Irving worked for PNC Investments in Edinboro, Pennsylvania, from March 2006 to September 2014, when he was permitted to resign while under investigation for what the firm described as "unauthorized trading in customer accounts," according to his BrokerCheck report.

Marcey Zwiebel, a spokeswoman for PNC, declined to comment on the matter.

Irving joins at least eight other bank reps suspended by FINRA this year for alleged infractions ranging from borrowing money from customers to failing to disclose outside business activities. Jeffrey Robert Conklin, a former Huntington Bank registered rep, for example, was suspended for six months and fined $5,000 for an alleged $43,000 check-kiting scheme, while Matthew Alan Morris, a former SunTrust broker, was suspended for three months and fined $5,000 for alleged customer signature falsifications. Both Conklin and Morris were sanctioned this month.

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Enforcement Enforcement actions Financial regulations Compliance FINRA PNC PNC Financial Services Group
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