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FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
FINRA has suspended this individual from acting as a broker. Please see the detailed report for more information
The representative was previously registered both as an investment adviser and as a broker. Visit BrokerCheck for more information on this individual's Broker record. Go to BrokerCheck Site
RESPONDENT KIM FAILED TO COMPLY WITH AN ARBITRATION AWARD OR SETTLEMENT AGREEMENT OR TO SATISFACTORILY RESPOND TO A FINRA REQUEST TO PROVIDE INFORMATION CONCERNING THE STATUS OF COMPLIANCE.
Resolution
LETTER
Sanctions
Suspension
Registration Capacities Affected
ANY CAPACITY
Duration
N/A
Start Date
4/27/2015
Regulator Statement
PURSUANT TO ARTICLE VI, SECTION 3 OF FINRA BY-LAWS, AND FINRA RULE 9554, RESPONDENT KIM IS SUSPENDED ON APRIL 27, 2015 FOR FAILURE TO COMPLY WITH AN ARBITRATION AWARD OR SETTLEMENT AGREEMENT OR TO SATISFACTORILY RESPOND TO A FINRA REQUEST TO PROVIDE INFORMATION CONCERNING THE STATUS OF COMPLIANCE.
1/14/2015
Regulatory
Final
Initiated By
FINRA
Allegations
WITHOUT ADMITTING OR DENYING THE FINDINGS, KIM CONSENTED TO THE SANCTION AND TO THE ENTRY OF FINDINGS THAT HE CONVERTED APPROXIMATELY $200,000 FOR HIS OWN USE AND BENEFIT FROM A CUSTOMER OF HIS MEMBER FIRM. THE FINDINGS STATED THAT WITHOUT THE CUSTOMER'S KNOWLEDGE OR PERMISSION, KIM WITHDREW FUNDS FROM THE CUSTOMER'S ACCOUNT VIA UNAUTHORIZED WIRE DISBURSEMENTS TO THIRD-PARTY BANK ACCOUNTS IN THE NAMES OF ONE OF HIS FAMILY MEMBERS AND A FRIEND.
Resolution
Acceptance, Waiver & Consent(AWC)
Bar
Bar (Permanent)
Registration Capacities Affected
All Capacities
Start Date
1/14/2015
License(s)
The broker is not currently registered with any state or SRO.
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.