Nov 13, 2021

Northridge, California Stockbroker Fraud Lawyer

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. Se habla español 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.

Continue Reading

Sep 11, 2021

Jersey City, New Jersey Stockbroker Fraud Attorney

Did Kishan Parikh Cause You Investment Losses? Kishan Parikh of Jersey City, New Jersey was named a Respondent in a FINRA complaint alleging that he made unsuitable recommendations and excessively traded in his customers’ accounts in violation of FINRA Rules 2111 and 2010. In May 2012, Kishan Parikh joined Aegis Capital Corp. while registered as a General Securities Representative. The firm later filed a Uniform Termination Notice for Securities Industry Registration (Form U5) reporting Parikh’s voluntary termination. According to the FINRA complaint, Kishan allegedly executed 442 trades with a principal value of approximately $31.1 million in five customers’ accounts. The FINRA allegations state that the excessive and unsuitable trading in the customers’ accounts resulted in annualized turnover rates ranging from 10.9 to 199.8 and annualized cost-to-equity ratios ranging from 27.5% to 59.7%. The complaint further states that Parikh’s alleged excessive and unsuitable trading caused combined losses of $33,000 while he received commission of at least $89,000. FINRA Rule 2111(a) provides in pertinent part that “[a] member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile.” FINRA Rule 2010 requires registered representatives to “observe high standards of commercial honor and just and equitable principles of trade.” Do You Need a New Jersey Stockbroker Fraud Attorney? Are you a Jersey City, New Jersey investor who has suffered significant losses your stock brokerage and investment accounts?  Did your New Jersey 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 Jersey City, New Jersey 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 New Jersey, 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. Se habla español 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 New Jersey citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Continue Reading

Apr 2, 2021

Irvine, California Stockbroker Fraud Attorney

Did Steven Michael Gribben Cause You Investment Losses? Steven Michael Gribben of Irvine, California submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was fined $7,500 and suspended from association with any FINRA member in all capacities for a period of three months. The sanctions were based on findings that he made negligent misrepresentations in violation of FINRA Rule 2010. The suspension was in effect from October 19, 2020, through January 18, 2021. In September 2017, Steven Michael Gribben joined Alpine Securities Corporation and became registered as an Investment Banking Representative. According to the FINRA findings, Gribben allegedly signed several transaction documents containing false statements, including that his member firm was not a broker or dealer in securities. The findings state that Gribben allegedly failed to properly read the claim purchase agreements before signing them to be submitted to the courts to obtain judicial confirmation that securities issued in exchange for the satisfaction of the claims would be deemed exempted securities. In addition, the misrepresentations could have impacted the court’s decision to approve instead of denying the exchanges and they made a false impression that Alpine was not timely paid for past work. Although Steven Michael Gribben is not currently registered or associated with any FINRA member firm, he remains subject to FINRA’s jurisdiction. FINRA Rule 2010 requires that FINRA member firms and their associated persons observe high standards of commercial honor and just and equitable principles of trade. Making a negligent misrepresentation or omission of a material fact to a court is a violation of FINRA Rule 2010. Do You Need a California FINRA Securities Arbitration Attorney? Are you an Irvine, 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 Attorneys Serving Irvine, 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. Se habla español 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.

Continue Reading