Qi Yang Suspended By FINRA For Falsifying Annuity Applications

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.

Yang consented to the sanctions without admitting or denying the findings.

Qi Yang's Four Falsified Annuity Applications

The findings state that Yang falsified three variable annuity applications and one fixed annuity application by providing false account numbers as funding sources for the annuities. Each application included, among other things, a number for the bank account that would fund the annuity and the signature of an individual who purportedly had authority to sign on behalf of the organization, according to the AWC.

On the four applications, Qi Yang listed account numbers for bank accounts that did not exist at the financial institutions named, and the organization did not maintain any accounts there, the findings state. Yang also failed to confirm that the signatory on the applications had the authority to sign them, and the signatory in fact lacked that authority, according to FINRA.

Qi Yang's Commissions Clawed Back

Based on his submission of the applications, Qi Yang received advance commissions from his member firm and its insurance affiliate, the AWC states. The firm and its affiliate later canceled all four applications and clawed back the associated commissions, according to FINRA.

The findings also state that Yang caused his firm to maintain inaccurate books and records by preparing and submitting the three falsified variable annuity applications on behalf of the organization.

The Suspension

Qi Yang's suspension is in effect from August 10, 2026, through February 9, 2027, FINRA's case records show. The matter's case number is 2023080063701.

Yang also agreed to the deferred $5,000 fine as part of the AWC, according to FINRA. The AWC lists the suspension and the deferred fine together as the full sanction in the matter.

Questions About An Account Handled By Qi Yang?

FINRA member firms must supervise the activities of their brokers. If you have questions about an account that Qi Yang handled, call Soreide Law Group at (888) 760-6552. You can also reach us online to speak with a securities attorney. Our securities lawyers handle FINRA arbitration claims on a contingency fee basis. Learn how FINRA arbitration works.

Sources

• FINRA, Disciplinary and Other FINRA Actions, October 2026, page 5
• FINRA BrokerCheck report for Qi Hua Yang (CRD 7439718)

This post summarizes public FINRA records, including BrokerCheck, as of October 14, 2026. In a FINRA Letter of Acceptance, Waiver and Consent, the respondent settles without admitting or denying the findings. FINRA may also update or correct these records after that date.