Last Updated: November 2023 (Valdosta, Georgia)
Yancey Carter Investigation Summary
Here’s what you need to know about Valdosta, Georgia, stockbroker Yancey Carter:
- Name: Mr. Yancey F. Carter
- Current Employer: Wells Fargo Clearing Services
- Previous Firms: A.G. Edwards & Sons
- Function: Stock Broker/ Financial Advisor
- Aliases: Frank Carter III, Yancey Franklin Carter III
- Primary Location: Valdosta, Georgia
- CRD 2259658
- Can Yancey Carter be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Pending Customer Dispute Seeks Damages of $2,166,028
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Yancey Carter As Your Stockbroker?
A customer of Wells Fargo Clearing Services filed a FINRA arbitration in 5/2023 alleging that Yancey Carter misrepresented the risks of loss involved with short selling shares of stock in their account causing losses of $2.1 million. This matter is currently pending.
What is Short Selling ?: Short selling is an investment strategy that speculates on the decline in the price of the stock. It is considered a very advanced investment strategy typically only engaged in by experienced traders. In short selling, the investor borrows shares of a security from the brokerage firm with the belief that the shares will drop in value. The investor then sells the borrowed shares at market value. If, and when, the share value drops, the investor will purchase the shares and return them to the brokerage firm, profiting to the extent of the drop in value.
The risk is that if the stock goes up the investor will pay more for the shares he needs to obtain to return the borrowed shares to the brokerage firm. Risk of loss is virtually unlimited since, in theory, the price of any stock can climb to infinity.
Allegations of Broker Misconduct Against Yancey Carter
Customers of Yancey Carter have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to engage in Short Selling
- Failed to explain risks associated with Short Selling
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Yancey Carter, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
