{"id":18406,"date":"2019-10-28T14:21:26","date_gmt":"2019-10-28T19:21:26","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=18406"},"modified":"2019-10-28T14:21:26","modified_gmt":"2019-10-28T19:21:26","slug":"ex-texas-broker-steven-yellen-fined-25k","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/","title":{"rendered":"Ex-Texas Broker With Morgan Stanley and Ameriprise Fined Over Allegedly Unauthorized Trades"},"content":{"rendered":"<p><a href=\"https:\/\/www.finra.org\" target=\"_blank\" rel=\"noopener noreferrer\">Financial Industry Regulatory Authority (FINRA)<\/a> has fined former Texas broker Steven Yellen $25K for allegedly making unauthorized trades while he was a registered representative for both Ameriprise (AMP) and <a href=\"https:\/\/www.investorlawyers.com\/morgan-stanley-background-information.html\" target=\"_blank\" rel=\"noopener noreferrer\">Morgan Stanley (MS)<\/a>. The self-regulatory authority (SRO) notes at least 30 instances in which Yellen executed trades without customer authorization.<\/p>\n<p>After more than 30 years in the industry, he is no longer affiliated with any broker-dealer after Ameriprise fired him last year. According to FINRA, from 3\/2013 to 12\/2015, Yellen \u00a0made 14 unauthorized trades while he\u00a0was a Morgan Stanley broker, exercising unauthorized discretion in a client\u2019s account. Meantime, when filling out compliance questionnaires, he neglected to disclose these activities.<\/p>\n<p>In 2016, after 32 years with Morgan Stanley, Steven Yellen became an Ameriprise broker. During this time, he allegedly made 16 unauthorized trades in 10 customer accounts. These trades went beyond these customers\u2019 risk levels that they\u2019d authorized.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/\"  title=\"Continue Reading Ex-Texas Broker With Morgan Stanley and Ameriprise Fined Over Allegedly Unauthorized Trades\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Financial Industry Regulatory Authority (FINRA) has fined former Texas broker Steven Yellen $25K for allegedly making unauthorized trades while he was a registered representative for both Ameriprise (AMP) and Morgan Stanley (MS). The self-regulatory authority (SRO) notes at least 30 instances in which Yellen executed trades without customer authorization. After more than 30 years in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7085,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3783,3774,3739],"tags":[2925,3242,3243,2283,4211],"class_list":["post-18406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broker-fraud","category-broker-misconduct","category-broker-dealers","category-finra","tag-ameriprise","tag-ami-forte","tag-charles-lawrence","tag-morgan-stanley","tag-steven-yellen"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ex-Texas Broker With Morgan Stanley and Ameriprise Fined Over Allegedly Unauthorized Trades | SSEK Law Firm<\/title>\n<meta name=\"description\" content=\"FINRA has fined former Texas broker, Steven Yellen, $25K for allegedly making unauthorized trades while he was with Ameriprise and Morgan Stanley.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ex-Texas Broker With Morgan Stanley and Ameriprise Fined Over Allegedly Unauthorized Trades | SSEK Law Firm\" \/>\n<meta name=\"twitter:description\" content=\"FINRA has fined former Texas broker, Steven Yellen, $25K for allegedly making unauthorized trades while he was with Ameriprise and Morgan Stanley.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/05\/sseklaw-nyse-header.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ex-Texas Broker With Morgan Stanley and Ameriprise Fined Over Allegedly Unauthorized Trades | SSEK Law Firm","description":"FINRA has fined former Texas broker, Steven Yellen, $25K for allegedly making unauthorized trades while he was with Ameriprise and Morgan Stanley.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/","twitter_card":"summary_large_image","twitter_title":"Ex-Texas Broker With Morgan Stanley and Ameriprise Fined Over Allegedly Unauthorized Trades | SSEK Law Firm","twitter_description":"FINRA has fined former Texas broker, Steven Yellen, $25K for allegedly making unauthorized trades while he was with Ameriprise and Morgan Stanley.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/05\/sseklaw-nyse-header.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Ex-Texas Broker With Morgan Stanley and Ameriprise Fined Over Allegedly Unauthorized Trades","datePublished":"2019-10-28T19:21:26+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/"},"wordCount":385,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/05\/sseklaw-nyse-header.jpg","keywords":["Ameriprise","Ami Forte","Charles Lawrence","Morgan Stanley","Steven Yellen"],"articleSection":["Broker Fraud","Broker Misconduct","Broker-Dealers","FINRA"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/","url":"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/","name":"Ex-Texas Broker With Morgan Stanley and Ameriprise Fined Over Allegedly Unauthorized Trades | SSEK Law Firm","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/#primaryimage"},"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/05\/sseklaw-nyse-header.jpg","datePublished":"2019-10-28T19:21:26+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"FINRA has fined former Texas broker, Steven Yellen, $25K for allegedly making unauthorized trades while he was with Ameriprise and Morgan Stanley.","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/#primaryimage","url":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/05\/sseklaw-nyse-header.jpg","contentUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/05\/sseklaw-nyse-header.jpg","width":1685,"height":789,"caption":""},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/ex-texas-broker-steven-yellen-fined-25k\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Ex-Texas Broker With Morgan Stanley and Ameriprise Fined Over Allegedly Unauthorized Trades"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards &amp; 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