Did Sun Hyung Kim Cause You Investment Losses?
Sun Hyung Kim of Northridge, California submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was barred from association with any FINRA member in all capacities. The sanction was based on findings that he allegedly executed unauthorized transactions, provided false and misleading information and caused his firm to maintain inaccurate books and records in violation of FINRA Rule 4511, 8210 and 2010.
In March 2015, Sun Hyung Kim joined Kayan Securities, Inc. and became registered as a General Securities Representative. According to FINRA’s findings, while associated with the member firm, Kim effected 162 unauthorized transactions in the brokerage accounts of one customer. The findings state that during a FINRA investigation, Kim allegedly provided false information regarding the transactions. In addition, Kim also caused his firm to maintain inaccurate books and records when he allegedly mismarked the 162 trades in the accounts of the customer as “unsolicited.” Sun Hyung Kim is currently registered with a FINRA member firm and remains subject to FINRA’s jurisdiction.
FINRA Rule 4511 provides that each member firm ““shall make and preserve books and records as required under the FINRA rules, the Exchange Act and the applicable Exchange Act rules.”” Exchange Act Rule 17a-3 requires firms to make a record of ““each brokerage order, and of any other instruction, given or received for the purchase or sale of securities, whether executed or unexecuted.”” This record ““shall show the terms and conditions of the order or instructions,”” which includes whether the order was solicited or unsolicited.
FINRA Rule 8210 requires persons subject to FINRA’‘s jurisdiction to provide information in connection with FINRA investigations. Providing false or misleading information to FINRA in response to a Rule 8210 request violates both Rule 8210 and FINRA Rule 2010.
Do You Need a California FINRA Securities Arbitration Attorney?
Are you a California investor who has suffered significant losses your stock brokerage and investment accounts? Did your California stockbroker or investment advisor, misrepresent facts about the securities, investments or strategies they were recommending or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA arbitration attorney — an attorney who knows FINRA rules and procedures and how to handle these FINRA arbitration cases as well as other complex legal issues.
Free Initial Consultation With Experienced Securities Misrepresentation and Stockbroker Fraud Lawyers Serving Northridge, California Residents in FINRA Securities Arbitrations
At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout California, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award.
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For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving California citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.