Darrach Michael Bourke (Darrach Bourke) Suspended from Securities Industry and Fired by Stifel, Nicolaus & Company, Incorporated – Goodman & Nekvasil P.A., May Recover Investor Losses
Goodman & Nekvasil P.A., May Recover Investor Losses - Darrach Michael Bourke (Darrach Bourke) Suspended from Securities Industry and Fired by Stifel, Nicolaus & Company, Incorporated
From 2011 until Darrach Bourke’s firing in 2014, Darrach Bourke was licensed with Stifel, Nicolaus & Company, Incorporated. Darrach Bourke was subsequently licensed with Summit Brokerage Services, Inc. and is now licensed with Emerson Equity LLC. According to FINRA’s records, Darrach Bourke was fired by Stifel, Nicolaus & Company, Incorporated on October 20, 2014. Stifel, Nicolaus & Company, Incorporated reported to FINRA that Darrach Bourke violated Stifel, Nicolaus & Company, Incorporated policy regarding exercising discretion without written authorization in client accounts.
Subsequent to Darrach Bourke’s firing by Stifel, Nicolaus & Company, Incorporated, FINRA investigated Darrach Bourke and brought a disciplinary action against Darrach Bourke. FINRA reports that Darrach Bourke consented to a $5,000 fine and a 20 day suspension from the securities and investment banking industry. According to FINRA, Darrach Bourke also consented to findings that Darrach Bourke exercised discretion without written authorization in the accounts of two customers. The findings stated that although Darrach Bourke discussed investment strategies with these customers, Darrach Bourke exercised discretion and executed transactions in the accounts without first speaking with the customers about the specific transactions. Darrach Bourke had not obtained prior written authorization from the customers to exercise discretion in their accounts, and Stifel, Nicolaus & Company, Incorporated had not approved either account for discretionary trading.
FINRA reports that two complaints have been filed involving Darrach Bourke’s conduct with Stifel, Nicolaus & Company, Incorporated. These complaints alleging unsuitable recommendations, unauthorized trading, and/or time and price discretion were all settled.
FINRA also reports that two complaints and/or arbitration claims alleging breach of fiduciary duty, fraud, misrepresentations, negligence, and/or unauthorized trading and overconcentration in energy securities are currently pending. These pending complaints and/or arbitration claims seek $173,000 and $90,000 in damages.
If you lost any money on investments with Darrach Bourke, you may be able to recover your losses from Emerson Equity LLC, Summit Brokerage Services, Inc. and/or Stifel, Nicolaus & Company, Incorporated. This is because Emerson Equity LLC, Summit Brokerage Services, Inc. and Stifel, Nicolaus & Company, Incorporated had a duty to supervise Darrach Bourke.
If you lost money on investments with Darrach Bourke and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Emerson Equity LLC, Summit Brokerage Services, Inc. and/or Stifel, Nicolaus & Company, Incorporated concerning Darrach Bourke’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq, formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Darrach Bourke and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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