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Investor Alleges Frank AuYeung Engaged in Excessive Trading

May 9, 2023 Excessive Trading

Frank AuYeung (CRD #: 2256932), a broker registered with Morgan Stanley, allegedly executed an excessive number of trades in a client’s accounts, according to his BrokerCheck record, accessed on May 2, 2023. If you want to know more about his alleged conduct as a broker, keep reading.

Investor Dispute

On February 16, 2023, an investor filed a dispute alleging that Frank AuYeung engaged in excessive trading in his accounts from 2013-2023. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile. These profiles contain information such as investors’ age, risk tolerance, and tax status.

Trading activity can also be quantitatively unsuitable, meaning that the broker executed an excessive number of trades. This racks up trading fees and commissions that can severely reduce the client’s returns.

Investors who rely on brokers for investment recommendations can potentially recover their losses by pursuing FINRA arbitration.

Background Information

Frank AuYeung has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 24 – General Securities Principal Examination

Frank AuYeung is a registered broker in 18 states and a registered investment adviser in California and Texas.

He has also worked for the following firms:

  • Wells Fargo Advisors (CRD#:19616)
  • Wells Fargo Investments (CRD#:10582)
  • Banc of America Investment Services (CRD#:16361)
  • BA Investment Services (CRD#:12965)
  • Citicorp Investment Services (CRD#:23988)
  • Laney & Company (CRD#:8755)

Kurta Law Can Help

If you worked with Frank AuYeung and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.