Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Yedid (Yedid), previously associated with Lifesci Capital, has at least one disclosable event. These events include one tax lien, alleging that Yedid recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on December 19, 2024.
Without admitting or denying the findings, Yedid consented to the sanctions and to the entry of findings that he shared $6,000 in transaction-related compensation with an unregistered person. The findings stated that Yedid’s member firm served as co-manager on a secondary public offering for an issuer that Yedid referred to the firm. As compensation for the referral, the firm paid Yedid a percentage of the co-manager fees it earned in connection with the offering. Yedid was aware that the individual with whom he shared transaction-based compensation was not registered as they were employed by an affiliate of his firm and supported the secondary public offering as part of the issuer’s investor relations team. After Yedid’s firm discovered the payment he made to the unregistered person, the firm suspended him for two weeks and imposed a $6,000 fine, which he paid.
