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Articles Tagged with Steven Yellen

Steven Tarasius Yellen of El Paso, Texas submitted a Letter of Acceptance Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) for allegedly exercising discretion and engaging in unauthorized trading in violation of NASD Rule 2510(b) and FINRA Rules 4511 and 2010.

From August 1984 until February 2016, Steven Tarasius Yellen was registered with Morgan Stanley as a General Securities Representative. According to FINRA, during his time with Morgan Stanley, Steven Yellen exercised discretion in a customer’s account without written authorization or acceptance of the account as discretionary and engaged in unauthorized trading. The findings stated that he opened a second account for the same customer without knowledge and transferred $30,000 from the original account to execute two unauthorized transactions. The firm did settle with the customer and filed a Uniform Termination Notice for Securities Industry Registration (“Form U5”) terminating Yellen. Continue Reading

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