Kyusun Kim (Kyusun “Kenny” Kim) has consented to a sanction from FINRA (the Financial Industry Regulatory Authority). FINRA is a non-governmental regulator of securities firms that focuses on investor protection and market integrity through effective and efficient regulation of the securities industry. The attorneys of Fishman Haygood Investment Fraud Lawyers are currently investigating possible claims against stockbroker Kyusun Kim.
In June 2018 Kyusun Kim was barred indefinitely from practicing as a broker. Kyusun Kim worked for Sandlapper Securities, LLC in San Diego, California from 2016 to 2017.
Kyusun Kim was previously associated with Independent Financial Group, LLC (2006 – 2016), Lincoln Financial Advisors & Lincoln National Life Insurance (1997 – 2006).
FINRA alleges that Kyusun Kim engaged in the following misconduct: unsuitable recommendations to numerous elder customers.
Through an investigation by FINRA, Kim was found to have made unsuitable recommendations to senior customers, particularly those who were retired or on the brink of retirement. Kim’s clients commonly had little to no investment experience outside of their 401K’s, and had set moderate/conservative and low risk investment objectives. Not only did Kim advise these clients to invest in products in conflict with their investment objectives, but he placed disproportionately high levels of their retirement assets in the illiquid, speculative, and high risk securities. Kim failed to inform his clients of the risk involved in these investments.
Investment firms have safeguards in place to keep brokers accountable to their clients’ investment objectives. However, FINRA also found that Kim had circumvented his firm’s protective measures by entering inaccurate, inflated net worth values and investment experience figures on their new account forms so that they could appear eligible for his suggested speculative investments. These unsuitable recommendations resulted in substantial losses for Kim’s clients, including from their retirement savings. Kim has neither admitted nor denied FINRA’s findings and has consented to FINRA’s sanction to be indefinitely barred from the securities industry.
Kyusun Kim has been the subject of at least 23 customer disputes.
If you invested money through Kyusun Kim, we would like to talk to you. Fishman Haygood Investment Fraud Lawyers are experienced securities litigators. We have helped hundreds of clients recover their losses that were due to broker fraud or negligence. Contact us today to discuss your options and receive a free consultation.
Fishman Haygood Investment Fraud Lawyers represents investors who have suffered investment losses in claims against their brokers or financial advisors. Our experienced attorneys have brought securities fraud cases in state and federal courts across the nation, as well as in FINRA arbitration. We work to help investors recoup their losses.
Of course, all cases are different. For that reason, we analyze each client’s matter individually and provide our personalized evaluation only after considering all of the facts and circumstances of all possible claims. If you or someone you know is the victim of securities fraud, please contact a Fishman Haygood Investment Fraud lawyer today.