Our firm is investigating UBS Financial Services broker and investment adviser representative Yoon Ji Park (CRD# 6787092) of Pasadena, California for potential investment-related misconduct arising from a customer dispute alleging that instructions to transfer OTC equity securities between trust accounts were not followed and that was later reportedly settled for $511,000.
Financial Advisor’s Career History
According to FINRA BrokerCheck, Yoon Ji Park has been associated with UBS Financial Services Inc. since May 2017, working as a client service associate in Pasadena, California. She is currently registered as a General Securities Representative (Series 7), has passed the Securities Industry Essentials (SIE) exam, and holds the Series 66 state securities law qualification.
Park is registered with multiple self-regulatory organizations, including FINRA and several national securities exchanges, and is licensed as an agent or investment adviser representative in numerous U.S. states and territories, including California, Florida, New York, New Jersey, Texas, and others.
Before entering the securities industry, Park reported working as a homemaker from November 2013 through May 2017 in Pasadena, California. UBS Financial Services Inc. is the only brokerage firm listed on her BrokerCheck report over the past ten years.
Yoon Ji Park Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck shows one customer dispute disclosure involving Yoon Ji Park, which has been reported as settled. There are no reported regulatory actions, terminations, bankruptcies, or criminal matters involving Park at this time. As with all BrokerCheck disclosures, the existence of a complaint or settlement does not, by itself, prove liability or wrongdoing.
Customer Dispute Alleging Failure to Follow Transfer Instructions
A single settled customer dispute is reported on Park’s BrokerCheck record with the following details:
- Employing Firm at the Time: UBS Financial Services Inc.
- Time Frame of Alleged Conduct: October 29, 2021 to November 15, 2021
- Product Type: Equity – OTC
- Core Allegation: The client alleges that instructions to transfer shares of a security from his trust account at Fidelity to his trust account at UBS were not followed.
- Nature of Complaint: Customer-initiated, investment-related dispute; reported as an oral complaint, not a written complaint or arbitration/civil action.
- Alleged Damages: $511,000.00
- Date Complaint Received: October 17, 2022
- Status: Settled (not pending)
- Settlement Amount: $511,000.00
- Individual Contribution: $0.00 (the settlement was reportedly paid by the firm, not by Park personally)
- Is this an arbitration or civil lawsuit? No – it is reported as a customer complaint that was settled without arbitration or court litigation.
Summary of FINRA-Reported Disclosures
Based on the current BrokerCheck report:
- Customer disputes: 1 – a settled complaint involving alleged failure to follow transfer instructions.
- Regulatory events: None reported.
- Civil judicial events: None reported.
- Criminal matters: None reported.
- Financial events (bankruptcies, liens, judgments): None reported.
Investors should understand that customer complaints may involve contested allegations and may be resolved for a variety of reasons, including business considerations, without any formal finding of wrongdoing against the broker.
Investors who believe they suffered losses because instructions to transfer securities or other account directions were not properly executed may have potential claims sounding in negligence, breach of fiduciary duty, or violations of industry rules, potentially pursued through FINRA arbitration.
To obtain a copy of Yoon Ji Park’s FINRA BrokerCheck report, visit this link
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
Park’s alleged conduct also raises concerns under FINRA Rule 2010, which requires brokers and their firms to observe high standards of commercial honor and just and equitable principles of trade when dealing with customers. When a client provides clear transfer instructions and the firm does not implement them or fails to escalate and correct problems promptly, FINRA and arbitrators may view that as falling below the ethical standard that Rule 2010 demands—even if there is no separate, specific rule violation. In disputes like the one involving Park, investors often argue that allowing a transfer request to go unfulfilled while the customer remains exposed to market risk is inconsistent with fair dealing and just and equitable principles of trade.
Another key provision is FINRA Rule 11870, which governs customer account transfer contracts and requires member firms to expedite authorized transfers of customer account assets between firms and to coordinate their activities so that properly authorized transfers are completed quickly and efficiently. While the Park disclosure describes a transfer of securities between trust accounts at different firms, the crux of the allegation is that the client’s transfer instructions “were not followed.” In similar cases, investors argue that a firm’s failure to process or diligently follow up on a transfer request violates the spirit of Rule 11870 by delaying or effectively preventing a legitimate account transfer, particularly when the failure causes the customer to miss a favorable price or incur sizable losses.
Finally, FINRA Rule 4512 requires firms to maintain accurate customer account information and to make reasonable efforts to obtain and preserve key data and authorizations for every account, including the customer’s name and residence, the associated person responsible for the account, and other critical records. In the context of Park’s case, investors may contend that UBS and its associated persons failed to document or retain the client’s transfer instructions adequately or to track and confirm the transfer request in a way that ensured it was carried out. Poor documentation and follow-through can lead to confusion about who gave what instructions and when, and those recordkeeping failures can be used as evidence that the firm did not meet its obligations under Rule 4512 and related supervisory standards.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.