Qi Yang (CRD 7439718) is a San Francisco, California broker. FINRA suspended him from association with any member firm in all capacities for six months and assessed a deferred fine of $5,000, according to an AWC issued August 10, 2026.
Soreide Law Group is investigating potential investor claims involving Infinity Financial Services after FINRA sanctioned the firm for supervisory failures involving deferred variable annuity exchanges and recommendations. Investors who incurred surrender charges or other losses in connection with variable annuity transactions recommended through Infinity should review the allegations that led to FINRA's disciplinary action against the firm.
According to FINRA Letter of Acceptance, Waiver, and Consent No. 2020065124802, Infinity did not maintain adequate supervisory systems and procedures for monitoring variable annuity exchanges from June 2019 through May 2026. FINRA found that the firm lacked procedures explaining how exchange activity would be reviewed, who would conduct those reviews, what tools would be used, and how potentially problematic transactions would be identified. According to FINRA, the firm also failed to maintain a system for tracking variable annuity exchanges and did not conduct reviews designed to identify potentially inappropriate exchanges.
FINRA also found that between June 2019 and February 2020, Infinity failed to reasonably supervise a former broker’s variable annuity exchange and purchase recommendations. According to FINRA, the broker recommended 10 variable annuity exchanges involving nine customers and recommended variable annuity purchases to two additional customers without a reasonable basis to believe the recommendations were suitable.
FINRA found that the firm's principals failed to identify warning signs associated with the recommendations, including recommendations involving shorter-term L-share annuities paired with long-term living benefit riders. FINRA further found that the broker did not adequately compare the costs and benefits of existing annuities with the proposed replacement annuities and did not properly consider the loss of certain withdrawal features. According to FINRA, the firm approved the recommendations despite these concerns, resulting in customers collectively paying $25,436 in additional costs.
As a result, FINRA determined that Infinity violated FINRA Rules 3110, 2330, and 2010. Infinity consented to the sanctions imposed by FINRA. The regulator accepted the settlement on July 29, 2026. As part of the settlement, Infinity was censured and fined $25,000.
Did you incur surrender charges or other losses in connection with deferred variable annuity recommendations made through Infinity Financial Services? You should contact Soreide Law Group at (888) 760-6552 or online and speak to a securities attorney concerning a potential recovery of your losses. Soreide Law Group has recovered losses for investors throughout the United States. The firm works on a contingency fee arrangement and advances all costs, meaning clients pay no attorney's fees unless a recovery is obtained.
Qi Yang (CRD 7439718) is a San Francisco, California broker. FINRA suspended him from association with any member firm in all capacities for six months and assessed a deferred fine of $5,000, according to an AWC issued August 10, 2026.
Thomas Jacobs (CRD 4139430) is a Bay City, Michigan broker. FINRA suspended him from association with any member firm in all capacities for two months and assessed a deferred fine of $2,500, according to an AWC issued August 3, 2026.
Mark Sullivan (CRD 2531982) is a Bethlehem, Pennsylvania broker. FINRA suspended him from association with any member firm in all capacities for three months and assessed a deferred fine of $10,000, according to an AWC issued August 6, 2026.
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