Daniel Keith Beech (CRD #6169844, Oak Park, California)

July 22, 2024 – An Order Accepting Offer of Settlement was issued in which Beech was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in all capacities for 10 months. Without admitting or denying the allegations, Beech consented to the sanctions and to the entry of findings that he improperly paid commissions of at least $636,000, directly and indirectly, to an unregistered person, who was required to be registered at the time of the payments. The findings stated that initially Beech and the individual had a joint billing code at their member firm, enabling Beech to receive commissions for making securities recommendations to certain of the individual’s clients. At that time, Beech paid 75 percent of any commissions he earned to the individual. Subsequently, pursuant to an AWC, FINRA fined and suspended the individual for trading in a customer’s account away from his member firm. A few months later the firm terminated the individual’s registration. The individual never re-associated with a FINRA member. Later, Beech entered into an agreement with the individual’s registered investment advisory firm to purchase the individual’s book of business. The agreement required Beech to pay the individual’s advisory firm $10,000 up front and thereafter 75 percent of commissions Beech earned from transactions in certain customer accounts for ten years and 25 percent of commissions for an additional five years. Beech paid, directly or indirectly, to the individual at least $636,000 in commissions received from securities transactions via personal check, wire, or cashier’s checks. Beech did not provide notice to, or receive permission from, any FINRA member firm before making payments to the individual. In addition to receiving transaction-based compensation from Beech, the individual, with Beech’s knowledge, engaged in conduct that required registration with FINRA. Ultimately, Beech and the individual signed an agreement ending the agreement. The suspension is in effect from August 19, 2024, through June 18, 2025. (FINRA Case #2022076391701) If you have suffered losses as a result of Daniel Keith Beech's act and/or actions we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Daniel Keith Beech. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-618-0545 or email Matthew Schwartz directly at mschwartz@tslfirm.com.