TEVEN TARASIUS YELLEN (STEVEN YELLEN) CRD#: 1281663, formerly with AMERIPRISE FINANCIAL SERVICES and MORGAN STANLEY, both of El Paso, Texas, was fined $25,000 by the Financial Industry Regulatory Authority Inc. (FINRA), and suspended for one year. Yellen is currently not registered as a broker.
According to the FINRA reports, Steven Yellen allegedly exercised discretion and placed 14 trades while he was with Morgan Stanley, between March of 2013 and December of 2015. FINRA also alleges that Yellen falsified three annual compliance questionnaires by denying having any accounts on discretion during that time period.
FINRA alleged that after Steven Yellen left Morgan Stanley in February of 2016, he then went to Ameriprise Financial Services, and also engaged in unauthorized trading. FINRA alleges that Yellen executed trades 16 times, in 10 clients’ accounts. According to FINRA, these trades were above the risk levels that the clients had authorized on their option forms, and Yellen did not obtain authorization from a client at Morgan Stanley or Ameriprise to execute these transactions.
According to FINRA’s BrokerCheck, Steven Yellen, has 2 Disclosures on his CRD report. One of the Disclosures is an “Employment Separation After Allegations,” on January 12, 2018. Yellen was discharged from Ameriprise Financial Services following the allegations that, “Registered representative was discharged for violations of company policy related to outside business activities and options trading.” The other Disclosure is a “Customer Dispute” which settled for $5,000.00
Steven Yellen has been in the securities industry for 33 years and was listed with 4 firms, the two most recent listed below:
03/07/2016 – 01/25/2018 AMERIPRISE FINANCIAL SERVICES, INC – EL PASO, TX
06/01/2009 – 02/09/2016 MORGAN STANLEY – EL PASO, TX
If you have also suffered losses due to the actions or recommendations of the former Morgan Stanley and Ameriprise, both of El Paso, Texas, broker Steven Yellen, contact Soreide Law Group and speak to an experienced securities lawyer regarding the recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents our clients nationally before FINRA and works on a contingency fee basis–no fee to you if no recovery.