National investment fraud lawyers KlaymanToskes continues its investigation of MML Investors Services after broker Michael I. Yoon (CRD# 6348923) of MML’s Los Angeles, CA branch received a customer complaint alleging $500,000 in damages.
FINRA BrokerCheck discloses one customer complaint against Michael I. Yoon filed on January 18th, 2023. The complaint alleges that beginning in or around April 2021, Yoon mismanaged the investor’s account, placed unauthorized trades, and made unsuitable stock and whole life insurance recommendations. The complaint is currently pending and alleges investor damages of $500,000.
KlaymanToskes is currently representing investors in FINRA arbitration claims against MML Investor Services similarly relating to unsuitable investment advice. Our investment loss attorneys have first-hand experience arbitrating against MML.
Former and current customers of Michael I. Yoon at MML Investors Services’ Los Angeles, CA branch who have experienced significant investment losses are encouraged to contact Lawrence L. Klayman, Esq. at 1-888-997-9956 or lklayman@klaymantoskes.com to discuss recovery options.
KlaymanToskes offers legal services on a contingency fee basis, meaning that we do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
FINRA (Financial Industry Regulatory Authority) is the self-regulatory body responsible for managing all brokers and brokerage firms doing business with the U.S. public. Financial professionals registered with FINRA have a responsibility to uphold its securities rules, including the following:
FINRA Rule 2010 requires brokerage firms and their registered representatives to “observe high standards of commercial honor and just and equitable principles of trade.”
FINRA Rule 2020 requires that “no member shall effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive, or other fraudulent device or contrivance.”
Financial advisors and their firms are responsible for providing suitable investment advice and may also be liable for a breach of fiduciary duty in the event of a misrepresentation, omission or unsuitable recommendation resulting in losses suffered by the investor.
Investors that have suffered losses as a result of violations of securities rules may hold their brokerage firm and its advisors liable through a FINRA arbitration claim. Contact KlaymanToskes today at (888) 997-9956 to learn more about the arbitration process.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com