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Lu Yu Fired from Merrill Lynch, Pierce, Fenner & Smith

Jun 29, 2022 Unauthorized Trading

Lu Yu (CRD #: 6216026) has been fired by Merrill Lynch, according to his BrokerCheck record, accessed on June 22, 2022. Details concerning his termination are provided below.

On April 12, 2022, Lu Yu was fired from Merrill Lynch, Pierce, Fenner & Smith following allegations that he was involved in business practices inconsistent with firm standards, including exercising discretion in non-discretionary client accounts. FINRA Rule 3260 prohibits brokers from executing discretionary trades unless both the investor and the firm have approved an account for discretionary trading.

Background Information

Lu Yu has passed the following exams:

  • Series 66 Uniform Combined State Law Examination
  • Series 63 Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 General Securities Representative Examination
  • Series 6 Investment Company Products / Variable Contracts Representative Examination

Lu Yu has worked for the following firms:

  • Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)
  • P. Morgan Securities (CRD #: 79)

Kurta Law Can Help

If you worked with Lu Yu and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.