Timothy and Rose Yee—Private Securities Transactions without Proper Written Notice
Timothy and Rose Yee Allegedly Engaged in Private Securities Transactions by Purchasing Securities in Two Privately-held without Proper Written Notice
Timothy and Rose Yee allegedly participated in private securities transactions by purchasing securities in two privately-held companies using personal funds which totaled $62,500, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Jason Kane and Joe Peiffer.
What is more, Timothy and Rose Yee allegedly participated in said transactions without providing written notice their broker-dealer, LPL Financial LLC, or obtaining the firm’s approval, the AWC notes.
The Peiffer Wolf Carr & Kane securities lawyers are currently investigating Timothy and Rose Yee’s alleged sale of private securities transactions without the approval of LPL Financial.
Timothy and Rose Yee Allegedly Solicited Three Customers to Invest in Companies without First Properly Providing Prior Notice to LPL; Suspended and Fined $7,500 and $5,000, Respectively
Timothy and Rose Yee allegedly, between October 2014 and February 2015, and while associated with LPL Financial LLP, allegedly solicited three customers to invest in one of the aforementioned companies, known only as GAA, without providing written notice to LPL or obtaining its approval, according to a recent FINRA AWC currently under review by attorneys Jason Kane and Joe Peiffer.
In addition, during October 2014, Yee invested $25,000 in another company, and these transactions were outside the regular course and scope of’ Yee’s employment with LPL, the AWC notes. As a result, Yee violated NASD and FINRA Rules, Rule 3040 and FINRA Rule 2010.
One should also note that, according to the AWC, Timothy and Rose Yee neither admitted nor denied the FINRA findings.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of alleged failure to provide proper written notice to their broker-dealer. They are currently investigating Timothy and Rose Yee’s alleged failure to provide proper written notice to their broker-dealer. 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.