Did you lose money investing with Kyung Kim (a/k/a Soo Kim) (CRD# 5110456)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Kyung Kim (a/k/a Soo Kim). If you suffered losses investing with Kyung Kim (a/k/a Soo Kim), then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of September 24, 2020, Kyung Kim (a/k/a Soo Kim)’s FINRA BrokerCheck Report contains the following:
Disclosure Events
1 Regulatory Event(s)
See FINRA Letter of Acceptance, Waiver and Consent No. 2018058100701
1 Employment Separation After Allegations
UPDATE 9/24/2020: According to FINRA’s August 2019 Disciplinary Actions: “Kyung Soo Kim (CRD #5110456, Houston, Texas) June 10, 2019 – An AWC was issued in which Kim was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for one month. Without admitting or denying the findings, Kim consented to the sanctions and to the entry of findings that without providing prior written notice to his member firm, he formed and incorporated an outside business activity, for which he was the sole shareholder and director, to engage in cryptocurrency mining activities. The suspension was in effect from June 17, 2019, through July 16, 2019. (FINRA Case#2018058100701)
Current and Previous Registrations
03/20/2014 – 04/10/2018 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD#:7691) KATY, TX
03/06/2008 – 01/06/2014 UMB FINANCIAL SERVICES, INC. (CRD#:17073) OVERLAND PARK, KS
03/20/2006 – 12/17/2007 METLIFE SECURITIES INC. (CRD#:14251) OVERLAND PARK, KS
03/20/2006 – 07/09/2007 METROPOLITAN LIFE INSURANCE COMPANY (CRD#:4095) OVERLAND PARK, KS
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states 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. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Kyung Kim (a/k/a Soo Kim) and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
