Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Yonglin Ren (Ren), currently associated with Cambridge Investment Research, Inc., has at least 2 disclosable events. These events include 2 tax liens, alleging that Ren recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on October 17, 2024.
On September 9, 2024, without admitting or denying the findings, Ren entered into an Acceptance, Waiver and Consent (‘AWC’) with FINRA wherein Ren made multiple posts to hundeds of participants in WeChat, a platform for written communication unapproved by his firm, including after individually being warned by LPL not to use an unapproved messaging channel to communicate with customers in 2017 and 2019. Some of Ren’s posts related to the securities industry and included posts discussing market observation, investing strategies, and services he could provide through his firm. Ren did not retain his WeChat messages and did not provide copies of the messages to his firm. In 2019 and 2020 compliance questionnaires, Ren inaccurately stated that he only communicated with prospective customers through his firm email address. Ren agreed to a 30 calendar-day suspension from associating with any FINRA member in all capacities and to the payment of a fine in the amount of $5,000.
