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
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
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.