July 2021- Los Angeles, CA
According to publicly available records Sun Hyung Kim (CRD#2053243), a former stockbroker who last worked for Kayan Securities, Inc., has been permanently barred from FINRA.
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.
In case #2019064935601, FINRA alleged that Kim effected 162 unauthorized transactions in the brokerage accounts of a customer and did not obtain approval from the customer before executing the transactions. During the investigation Kim falsely stated to FINRA that the customer provided authorization. As a result Kim caused his member firm to have inaccurate books and records. Kim was permanently barred from FIRNA as a result in 4/2021.
In Arbitration Case #09-04231 filed in September of 2009 by a customer of his former firm, Shin Han Global Securities, allegations were unsuitable investment recommendation and unauthorized trading. The case settled for $15,000 with $9,000 provided individually by Kim.
In April of 2008, another customer of Shin Han Global Securities alleged unsuitable investment recommendation, churning, excessive trading and heavy use of margin. This case settled for $80,000 with $40,000 paid by Kim individually.
Kim had been employed with Kayan Securities since March of 2015. Before that time he was with Shin Han Global Securities, UBS Financial Services, and Prudential Securities.
If you had an account with Sun Hyung Kim that suffered losses, you may be entitled to collect damages from his prior employer. Call to discuss your options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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