Victim of Financial Fraud? Call Now
Home » Broker Blog » Robert Yedid Suspended by FINRA

Robert Yedid Suspended by FINRA

Robert Yedid (CRD #: 1185909), a broker formerly registered with LifeSci Capital, has been suspended by FINRA, according to his BrokerCheck record, accessed on January 4, 2025. Read on to learn more about his alleged conduct as a broker.

FINRA Suspension

On December 19, 2024, Robert Yedid consented to the entry of findings that he allegedly shared $6,000 in transaction-related compensation with an unregistered person in 2021.

A Letter of Acceptance, Waiver & Consent (AWC) alleged that Robert Yedid referred an issuer of a secondary public offering to his firm, LifeSci Capital, which served as co-manager for the offering in February 2021. The firm allegedly compensated Robert Yedid for the referral in the form of a percentage of the co-manager fees the firm earned.

Robert Yedid allegedly shared $6,000 of this compensation with an individual that he knew was not registered. This individual was allegedly also an employee of a LifeSci Capital affiliate and supported the secondary public offering as a member of the issuer’s investor relations team.

The AWC concluded that these allegations constitute violations of FINRA Rules 2040 and 2010.

FINRA Rule 2040

FINRA Rule 2040 prohibits members from directly or indirectly compensating unregistered individuals who, because of the reason they were compensated, would need to be registered broker-dealers under applicable federal securities laws.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

Robert Yedid consented to the following sanctions:

  • 15 business-day suspension from associating with FINRA members
  • $2,500 fine

His suspension began on January 6, 2025, and will end on January 27, 2025. You can read the full AWC here.

Background Information

Robert Yedid has passed the following exams:

  • General Securities Principal Examination – Series 24
  • Securities Industry Essentials Examination – SIE
  • General Securities Representative Examination – Series 7

He previously worked for the following firms:

  • LifeSci Capital (CRD#:168404)
  • Counsellors Securities (CRD#:15654)
  • Bear, Stearns & Company (CRD#:79)
  • Salomon Brothers (CRD#:740)

Kurta Law Can Help

If you worked with Robert Yedid 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 that 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. 

 

Recent Results

$16.75M

Million

Recovery for ARC NYC REIT Investors
Learn More
Kurta Law recovered millions of dollars for investors who purchased the speculative and unsuitable ARC NYC REIT. The arbitration settled for substantially more than the investor losses.

Recent Results

$9.3M

Million

Investors Receive Award for More than their Losses
Learn More
Jonathan Kurta was able to recover over $9.3 million for a group of defrauded investors. The claims were based upon the brokerage firm’s failure to supervise a stockbroker who stole client funds and then prepared and disseminated fake account statements for decades.

Recent Results

$7.1M

Million

Elderly Victims Recover After a Decade of Fraud
Learn More
Jonathan Kurta represented a group of elderly women who were the victims of a financial crime perpetrated by a rogue broker. The broker utilized forged documents to steal funds from the clients’ accounts over a decade.

Recent Results

$4.2M

Million

Investor vs. Royal Alliance
Learn More
Jonathan Kurta represented an investor who alleged that Royal Alliance Associates had not fulfilled their supervisory duties. This allegedly allowed brokers to engage in conversion and RICO violations. Read a copy of the award here.

Recent Results

$1M

Million

Utah Firm Executed Unnecessary Transaction
Learn More
A FINRA panel sided with Kurta Law and found that a Utah brokerage firm executed unnecessary transactions in order to generate more commissions. Read a copy of the award here.

Recent Results

$2M

Million

Arizona Investors Options Trading Scam
Learn More
Kurta Law negotiated a $2 million settlement on behalf of Arizona investors who were defrauded in an options trading scam.

Categories