Investors Allege Yu-chin Chen Recommended Unsuitable Investments

Yu-chin Chen (CRD #: 3041928), a broker previously registered with Citigroup Global Markets, is involved in two pending disputes, according to her BrokerCheck record, accessed on June 29, 2022. If you have questions about Yu-chin Chen’s conduct as a broker, keep reading.

Investor Disputes

Two disputes, filed in 2021 and 2022, allege Yu-chin Chen made unsuitable investment recommendations. These disputes are currently pending.

Yu-chin Chen was also named in two disputes filed in 2018 alleging that she misrepresented investment products. The clients sought a collective $105,325 in damages but the disputes were denied.

Investors should be aware, however, that firms can deny disputes without an external review. Investors can still recover their losses after a denial by pursuing FINRA arbitration.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consider the information described in the investor’s profile, which includes the following characteristics:

• Age
• Financial goals
• Risk tolerance
• Time horizon (i.e., how long the investment will be held)
• Investing experience
• Tax status

FINRA Rule 2020

Misrepresentation violates FINRA Rule 2020, which bans the use of manipulative, deceptive, and otherwise unethical means of influencing investors’ decisions.

Background Information

Yu-chin Chen has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination
• Series 26 – Investment Company Products/Variable Contracts Principal Examination

She previously worked for the following firms:

• Citigroup Global Markets (CRD#:7059)
• Cetera Investment Services (CRD#:15340)
• Wells Fargo Advisors (CRD#:19616)
• Chase Investment Services (CRD#:25574)
• Financial Network Investment Corporation (CRD#:13572)
• Core Pacific Securities USA (CRD#:44442)
• American Express Financial Advisors (CRD#:6363)
• IDS Life Insurance Company (CRD#:6321)
• Pruco Securities (CRD#:5685)

Kurta Law Can Help

If you worked with Yu-chin Chen 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.