Yuting Cheng, of Rowland Heights, California, a stockbroker registered with Cetera Investment Services LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $75,000.00 in damages based upon allegations that Cheng made unsuitable recommendations of direct investments (LP interests and DPP interests) during the time that Cheng was associated with Cetera Investment Services LLC. FINRA Arbitration No. 23-00863 (April 10, 2023).
This is not the first time that Cheng has been referenced in a customer initiated investment related dispute concerning Cheng’s conduct in the securities industry. FINRA Public Disclosure shows that Cheng was also referenced in a customer initiated investment related complaint filed on September 28, 2016, in which the customer requested $10,000.00 in damages based upon allegations that the customer was not made aware of liquidity and risks of BDCs when Cheng was associated with Cetera Investment Services LLC. The securities broker dealer denied this complaint.
On October 27, 2020, a customer initiated investment related complaint involving Cheng’s conduct was settled for $9,397.04 in damages based upon allegations that Cheng made misrepresentations of material fact in connection with the recommendation and sale of investments during the time that Cheng was associated with JP Morgan Securities LLC.
Cheng was associated with Cetera Investment Services LLC as a stockbroker from April 2, 2013, to November 6, 2015. He was associated with JP Morgan Securities LLC as a stockbroker and investment advisor representative from November 30, 2017, to March 17, 2021. Since December 13, 2022, he has been associated with Wells Fargo Clearing Services LLC as a stockbroker and investment advisor representative.
