Andrew Todd Yocum, of Lady Lake, Florida, a stockbroker formerly registered with Morgan Stanley Smith Barney LLC, was charged by the Florida Office of Financial Regulation in a Complaint seeking sanctions against Yocum including revocation of his securities registration, fines, cease and desist, and a bar based upon allegations that Yocum effected unauthorized and unsuitable trades in customer accounts. Case No. 67599-S (Mar. 2, 2017).

In 2016, Yocum was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed an investigation into allegations that he, inter alia, effected unauthorized transactions in customer accounts and recommended that seniors buy unsuitable energy sector equities. Letter of Acceptance, Waiver and Consent, No. 2015048065701 (May. 24, 2016). According to the AWC, Yocum confirmed on April 26, 2016, that he would not provide FINRA staff with recorded testimony in connection with FINRA’s investigation into his wrongdoing. FINRA found Yocum’s conduct to be violative of FINRA Rules 2010 and 8210.

Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that since January 9, 2017, Yocum has been identified in five customer initiated investment related disputes containing allegations of his misconduct while employed with Morgan Stanley. Particularly, on January 9, 2017, a customer filed an investment related arbitration claim involving Yocum’s conduct, in which the customer requested $500,000.00 in damages based upon allegations that he effected transactions in the customer’s account that were not suitable and which resulted in overconcentration of the customer’s portfolio in equities.

Between January 26, 2017, and February 6, 2017, two customers filed investment related written complaints regarding Yocum’s activities, based upon allegations that between 2014 and 2015, Yocum effected unsuitable managed wrap account investments. Further, on February 9, 2017, a customer filed an investment related arbitration claim involving Yocum’s conduct, based upon allegations that he made unsuitable investment recommendations to the customer concerning stock investments. On February 24, 2017, another customer filed an investment related arbitration claim regarding Yocum’s activities, in which the customer requested at least $100,000.00 in damages based upon allegations that Yocum made misrepresentations to the customer concerning equities.

Guiliano Law Firm

Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Tags: ,

Comments are closed.

%d bloggers like this: