Jim Seol of Lake Forest, California was named a respondent in a Financial Industry Regulatory Authority (FINRA) complaint that alleges he engaged in outside business activities and participated in private securities transactions without providing notice or receiving approval from his associated firm. Mr. Seol entered the securities industry in 1997 and was registered as a General Securities Representative (GSR) for Ameriprise Financial Services, Inc. (Ameriprise) until his termination in May 2014.
The FINRA complaint alleges that from September 21, 2011 through June 4, 2014, Mr, Seol engaged in outside business activities and participated in private securities transactions without providing prior written notice or receiving written approval by his member firm. While still associated with Ameriprise, Mr. Seol formed Western Regional Center, Inc. (WRCI), a California corporation, as President and CEO. Through WRCI, Seol solicited investments in California Energy Investment Fund I, LP (CEIFI), a limited partnership formed by Seol, through WRCI.