Broker Investigation: Mitchell Yanow

Mitchell Yanow (CRD#: 2148171) is a former FINRA broker. From 2015 to 2018, Mr. Yanow was employed at Stifel, Nicolaus & Company in Boca Raton, Florida. This individual has also been a securities representative at Oppenheimer & CO., Wachovia Securities, and UBS Financial Services.

On July 11th, 2018, FINRA permanently barred Mitchell Yanow from the securities industry. These sanctions are related to allegations that Mr. Yanow unlawfully converted more than $200,000 from an elderly customer. For full details regarding this disciplinary action, please refer to FINRA case NO. 2018058538001.

Broker Misconduct: Mitchell Yanow

The alleged misconduct in this case occurred in and around July of 2017. At that time, FINRA alleges that Mr. Yanow received an entire book of blank checks from an 87-year-old customer of his brokerage firm (Stifel, Nicolaus & Company). Purportedly, the purpose of this was to ensure that the customer’s caregivers would be paid in the event that the customer lost his ability to do so.

Unfortunately, FINRA alleges that Mr. Yanow violated the trust of his customer. Allegedly, he converted at least $205,586 of the customer’s funds to use for his own personal expenses. This conduct is a direct violation of FINRA Rule 2150. Without admitting to or denying the conversion of funds, Mitchell Yanow consented to FINRA’s sanctions, which include a permanent bar from associating with any FINRA member firm in any capacity.

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