Joseph Yanofsky— Unauthorized Stock Purchases
Joseph Yanofsky, a Former Merrill Lynch Broker, Allegedly Exercised Discretion in Nine Customers’ Accounts when He Purportedly Made Unauthorized Stock Purchases without Written Authorization from His Member Firm
Joseph Yanofsky allegedly exercised discretion in nine customers’ accounts without written authorization, according to a recent Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.
Investors who believe they may have lost money in activity related to Joseph Yanofsky‘s alleged unauthorized stock purchases are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.
The Peiffer Rosca Wolf securities lawyers are currently investigating Joseph Yanofsky‘s alleged unauthorized stock purchases.
Yanofsky, who was employed by Merrill Lynch in its Greenwood Village, Colo., office from 1990 to 2015, allegedly did not have written authorization to exercise discretion on behalf of any of the nine customers referenced above, and in many cases, he participated in syndicate offerings on their behalf without having obtained even verbal authorization at any point following the offering’s launch, the aforementioned AWC notes.
What is more, Yanofsky, starting in June of 2014, allegedly directed a subordinate employee on numerous occasions to enter certain trades using the login credentials of another registered representative and thus purportedly causing order tickets to be inaccurate.
Finra fines former Merrill broker $10,000 for unauthorized stock purchases
Joseph Yanofsky Fined $10,000 by FINRA for Allegedly Arranging Stock Buys without Getting Customers’ Approval
Joseph Yanofsky, based on the alleged foregoing behavior, allegedly violated NASD and FINRA Rules, according to the aforementioned AWC currently under review by attorneys Alan Rosca and James Booker.
Hence, Yanofksy has been fined $10,000 by FINRA, the AWC notes. NASD Rules prohibit the exercise of discretion in a customer’s account unless such customer has given prior written authorization, and that the account has been accepted by said member, the AWC notes.
Yanofsky, since 2015, has been affiliated with First Financial Equity Corp., and started his career in 1979 at Merrill Lynch and joined E.F. Hutton in 1982, and has also has been affiliated with Paine Webber and Hanifen Imhoff, the AWC reports.
One should also note that, according to the AWC, Joseph Yanofsky neither admitted nor denied the FINRA findings.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating Joseph Yanofsky‘s alleged unauthorized stock purchases. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Joseph Yanofsky‘s alleged unauthorized stock purchases may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at email@example.com or firstname.lastname@example.org.