The securities fraud lawyers at Meyer Wilson are currently investigating allegations against broker Andrew Yocum (CRD# 4590723)
The Financial Industry Regulatory Authority (FINRA) has permanently barred former Summit Brokerage Services broker Andrew T. Yocum from acting as a broker or otherwise associating with firms that sell securities to the public.
Yocum signed a Letter of Acceptance, Waiver and Consent on May 24, agreeing to the sanctions levied against him by FINRA without admitting or denying the findings.
FINRA began their investigation into Yocum in 2015 to determine whether he exercised discretion without written authorization, recommended unsuitable concentrated purchases of energy sector securities, and effected unauthorized transactions to senior citizens.
On March 30, 2016, FINRA sent a request to Yocum to give on-the-record testimony, which he refused to give. By doing so, he violated FINRA Rules 2010 and 8210.
Morgan Stanley, Yocum’s employer from 2009-2015, filed a Uniform Termination Notice for Securities Industry Registration (Form U5) on October 6, 2015 based on “allegations concerning acting on verbal discretion.” After registering with Summit Brokerage Services in December of 2015, they also filed a Form U5 on March 3, 2016 terminating Yocum’s association with their firm.
Yocum has 11 pending customer disputes totaling over $900,000 in damage amounts requested.
If you or a loved one invested and lost money with former Morgan Stanley and Summit Brokerage Services broker Andrew Yocum, contact our attorneys at Meyer Wilson for a free consultation to discuss your potential claim. All of our cases are handled on a contingency fee basis.