The Villages Florida
UPDATE MAY 2017–FINRA records disclose that Andrew “Todd” Yocum has a currently pending regulatory matter. There are 17 currently pending customer disputes and 15 prior customer disputes that are final.
In many of the customer disputes, both prior and those that have been settled, the customers allege an overconcentration of oil and gas related securities. Some of the prior cases that have been settled include:
- In 2/2017 a customer of Morgan Stanley was paid $67,500 to resolve allegations that Yocum made unsuitable recommendations in the energy sector 2014-1015.
- IN 8/2016 a customer of Morgan Stanley was paid $35,975 to resolve allegations that from March 2012-September 2015 Yocum made unsuitable recommendations.
IN 3/2017 the Florida Office of Financial Regulation filed an Administrative Complaint alleging violations of standards of commercial honor and principles of trade; suitability; and placing trades in client accounts without authorization.
ORIGINAL POST-July 2016
Rex Securities Law recently filed a FINRA arbitration claim against Morgan Stanley alleging that they failed to properly supervise their former broker Andrew Todd Yocum, permitting him to mismanage the brokerage account of a retired couple from Central Florida. The couple is alleging losses of between $100,000 and $499,000.
Andrew Yocum was employed by Morgan Stanley and worked in their office located at 832 Lake Sumter Landing, The Villages, Florida, until he was discharged for “Allegations concerning acting on verbal discretion” according to FINRA records.
Yocum was barred from the securities industry by FINRA in May 2016. There are numerous customer disputes currently pending by former clients of Andrew Yocum. See this for more on Yocum.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. Customers of broker dealers who have a dispute, such as a claim for account losses , are entitled to file an arbitration proceeding against the firm and/or the broker to recover damages.
We are currently evaluating potential cases for former clients of Todd Yocum. Call to discuss your options for recovery.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Florida-561 391 1900