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Former LPL Broker Timothy Richard Yee Fined & Suspended for Unapproved Outside Transactions

FINRA suspended former LPL Financial broker Timothy Richard Yee of Northern California for participating in private securities transactions using personal funds and for soliciting three LPL customers to invest in one of those companies without providing written notice to or obtaining approval from the firm. FINRA also fined and suspended Yee's wife Rose Penelope L. Yee for engaging in the misconduct.

FINRA AWC #2015045798701 (Timothy Richard Yee)

FINRA AWC #2015045798702 (Rose Penelope L. Yee)

According to the findings, Timothy and Rose Yee jointly invested $62,500 in two privately-held companies while Timothy additionally solicited three LPL customers to invest in one of those companies—GAA—without notifying, seeking or receiving approval from LPL.

Timothy Yee's BrokerCheck report indicates that LPL Financial discharged him in May 2015 for failing to provide written notice and receive approval for the private securities transactions. Since leaving LPL's Alameda, CA branch, Yee has been associated with the Independent Financial Group, LLC, also of Alameda, California.

If you have invested with Timothy Richard Yee or with any broker or financial adviser who has solicited investments in a private security away from and without permission from their employing firm—and especially if the investment concerns a security or company in which the broker has invested personal funds or otherwise holds a conflict of interest or underlying financial motivation—and this misconduct has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

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The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.
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