Michael Steven Yarus (also known as Michael Steven Yarus), of Paramus, New Jersey, a stockbroker registered with Wells Fargo Clearing Services LLC, has been discharged by the securities broker dealer on January 25, 2023, based upon allegations that Yarus engaged in unauthorized trading.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Yarus is referenced in three customer initiated investment related disputes concerning Yarus’ conduct while associated with securities broker dealers, including Lebenthal Co. Inc. On October 5, 1998, a customer filed an investment related complaint involving Yarus’ conduct in which the customer requested compensation based upon allegations that Yarus engaged in unauthorized trading in municipal bonds when Yarus was associated with Lebenthal Co. Inc. This complaint was denied by the securities broker dealer.
On February 12, 2001, a customer initiated investment related complaint involving Yarus’ conduct was settled for $15,000.00 in damages based upon allegations that Yarus engaged in unauthorized trading in UITs, equities, and municipal bonds during the time that Yarus was associated with Lebenthal Co. Inc.
Yarus was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $29,000.00 in damages based upon allegations that Yarus made unsuitable recommendations and made misrepresentations of material fact in connection with the sale of municipal bonds when Yarus was associated with UBS Financial Services Inc. FINRA Arbitration No. 16-00757 (October 31, 2016).
Yarus was associated with Wells Fargo Clearing Services LLC as a stockbroker from May 24, 2012, to February 13, 2023. He was associated with Carter Terry Company Inc. as a stockbroker from February 21, 2023, to May 9, 2023.
