Can you recover losses due to recommendations by Emerson Equity LLC broker Darrach Bourke (CRD# 5255413)? He has been registered with Emerson Equity LLC in San Rafael, California, since 2017. He was registered with Emerson Equity LLC in Lakspur, California, from 2016 to 2017, Summit Brokerage Services, Inc. in Larkspur, California, from 2014 to 2016, Summit Financial Group Inc. in Larkspur, California, from 2014 to 2016, and Stifel, Nicolaus & Company, Incorporated in San Francisco, California, from 2011 to 2014, when he was terminated regarding, “violation of firm policy regarding exercising discretion without written authorization in client accounts.”
In April 2017, he was sanctioned to pay a $5,000 civil and administrative penalty and fine and was suspended for 20 days after he “consented to the sanctions and to the entry of findings that he exercised discretion without written authorization in the accounts of two customers.” FINRA found that “although Bourke discussed investment strategies with these customers, Bourke exercised discretion and executed transactions in the accounts without first speaking with the customers about the specific transactions. Bourke had not obtained prior written authorization from the customers to exercise discretion in their accounts, and his member firm had not approved either account for discretionary trading.”
Darrach Bourke Customer Complaints
He has been the subject of seven customer complaints between 2013 and 2025, according to his CRD report. The most recent complaints were regarding:
July 2025. “Unsuitable investment 2017.” The customer is seeking $166,056 in damages, and the case is currently pending. The complaint was regarding real estate securities losses, and it took place while he was registered with Emerson Equity LLC.
February 2023. “Breach of fiduciary duty, Negligence and Negligent misrepresentation, Breach of contract, Negligence-Violation of best interest.” The case was settled for $37,585.94. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
June 2018. “Client alleges that beginning in March 2015, registered representative exercised unauthorized discretionary control and executed trades contrary to his investment and risk profile.” The customer sought $173,000 in damages, and the case was settled for $32,500. The complaint was regarding common and preferred stocks and investments in GoPro, Ambarella, and Medley Capital, and it took place while he was registered with Stifel, Nicolaus & Company, Incorporated.
August 2017. “Client alleges unauthorized trading and overconcentration in energy securities. 10/21/11 through 10/21/2014.” The customer sought $90,000 in damages, and the case was settled for $13,500. The complaint was regarding direct investment losses, and it took place while he was registered with Stifel, Nicolaus & Company, Incorporated.
March 2016. “Client alleges that registered representative recommended unsuitable mutual funds.” The case was settled. The complaint was regarding mutual fund losses, and it took place while he was registered with Stifel, Nicolaus & Company, Incorporated.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Emerson Equity LLC may be liable for investment or other losses suffered by Darrach Bourke’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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