Fan Yip, formerly of Raymond James Financial Services, Suspended Six Months from Securities Industry
We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Fan K. Yip, from Mercer Island, Washington. FINRA suspended Yip from the securities industry for three months and fined him $5,000. FINRA was investigating Yip to determine whether engaged in private securities transactions that were not disclosed to his brokerage firm, Raymond James Financial Services. Yip was alleged to have solicited an investor to invest $50,000 in a weight management start-up company without first disclosing such to Raymond James Financial Services.
Fan Yip was a financial advisor and registered representative of Raymond James Financial Services from June 2008 to September 2016. He worked at a branch office in Mercer Island, Washington. Yip has been the subject of one customer complaint, alleging a $50,000 loss. Yip was terminated by Raymond James Financial Services as a result of this alleged conduct.
Brokerage firms like Raymond James Financial Services have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Bellevue, Washington; Vancouver, Washington; and Denver, Colorado. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout the Seattle area, including in Mercer Island, Bellevue, Kirkland, Kent, Renton, Redmond, and others. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Raymond James Financial Services.
Click to view: Yip, Fan FINRA AWC
Click to view: Yip, Fan BrokerCheck 8.28.17
If you lost money with Fan Yip or Raymond James Financial Services, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.