MML’s Michael Yoon Has $500K Unauthorized Trading Complaint

Los Angeles financial advisor Michael Yoon (CRD# 6348923) allegedly made unsuitable investment recommendations and unauthorized trades, according to a new investor complaint. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with MML Investors Services.

Mr. Yoon’s BrokerCheck report discloses one investor complaint. Filed in January 2023, it alleges that as a representative of MML Investors Services, he mismanaged the customer’s account, made unauthorized transactions, and recommended unsuitable investments in stock and whole life insurance products. The pending complaint alleges damages of $500,000.

Investors should be aware that FINRA-associated brokers like Michael Yoon are generally forbidden from effecting unauthorized transactions. Such conduct may be found to violate FINRA Rule 2010, which requires brokers to uphold high standards of commercial honor and just and equitable principles of trade; it may also or alternatively be found to violate FINRA Rule 2020, which states that no broker 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.” Representatives who violate these rules may be found liable for damages in the event of losses.

According to the Financial Industry Regulatory Authority, Michael Yoon holds six years of securities industry experience. Based in Los Angeles, California, he has been a broker and an investment advisor with MML Investors Services since 2017 and 2018, respectively. He was previously registered with MSI Financial Services in Los Angeles from 2016 until 2017. His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California and Washington. (Information current as of January 29, 2023.)

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