FINRA’s Department of Enforcement initiated an investigation into Yocum’s alleged misconduct. Specifically, FINRA investigated whether executed unauthorized transactions, exercised discretion without written authorization, and recommended unsuitable concentrated purchases of energy sector securities to senior investors. In connection with this investigation, FINRA sent Yocum a request to provide documents and information pursuant to FINRA Rule 8210. According to FINRA, Yocum failed to cooperate with the investigation.
Based upon the foregoing alleged misconduct, FINRA asserted Yocum violated FINRA Rules 2010 and 8210. Specifically, FINRA Rule 8210 authorizes FINRA, in the course of its investigations, to require persons associated with a FINRA member to “provide information orally, in writing, or electronically . . . with respect to any matter involved in the investigation...” Here, Yocum failed to provide information in response to FINRA’s request, thereby violating FINRA Rule 8210.
Lufrano Law, LLC is a national securities litigation firm and has experience representing investors who have investment disputes with brokers and broker-dealers. If you suffered investment damages with Yocum while employed by Morgan Stanley, you may be able to recover your losses through FINRA arbitration. Our firm only receives a fee if you recover money. Please contact one of our attorneys at (800) 627-2179 to schedule a free consultation or complete our free case evaluator.