Jae Hun Kim (also known as J.H. Kim), of Cortlandt Manor, New York, a stockbroker registered with E1 Asset Management Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Kim failed to provide the regulator with requested information and documents during an investigation into a customer dispute. Letter of Acceptance, Waiver, and Consent, No. 2021073232401 (March 19, 2024).
According to the AWC, this regulatory action stemmed from a customer initiated arbitration claim. On February 26, 2024, as part of its probe into the customer arbitration, FINRA requested Kim to produce certain information and documents under Rule 8210.
Kim, during a telephone conversation with FINRA on March 1, 2024, acknowledged receipt of this request. However, he indicated his decision not to provide the requested information or documents at any time. By refusing to comply in the investigation, Kim violated FINRA Rules 8210 and 2010.
FINRA Public Disclosure shows that Kim is referenced in nine customer initiated investment related disputes concerning Kim’s conduct while associated with securities broker dealers. On November 8, 2008, a customer filed an investment related complaint involving Kim’s conduct in which the customer requested $16,751.96 in damages based upon allegations that Kim used 66 percent of the customer’s cash to purchase stocks against the customer’s instructions when Kim was associated with E1 Asset Management Inc. The complaint was closed with no further action taken by the customer.
On July 18, 2013, a customer initiated investment related FINRA securities arbitration claim involving Kim’s conduct was settled for $300,000.00 in damages based upon allegations that Kim engaged in sales practice violations in connection with the sale of stocks and options during the period that Kim was associated with E1 Asset Management. FINRA Arbitration No. 12-00305.
Kim is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $21,000.00 in damages based upon allegations that Kim made misrepresentations of material fact, breached a contract, made unsuitable recommendations, was negligent, and committed fraud in connection with the sale of stocks. FINRA Arbitration No. 14-02830 (January 8, 2016).
On August 4, 2015, a different securities arbitration claim involving Kim’s conduct was settled for $7,500.00 in damages based upon allegations that Kim made misrepresentations and unsuitable recommendations in stocks and options when Kim was associated with E1 Asset Management.
On May 9, 2023, another customer filed a securities arbitration claim involving Kim’s conduct in which the customer requested $4,000,000.00 in damages based upon allegations that Kim engaged in unsuitable and unauthorized trading in stocks, options, and over-the-counter equities. FINRA Arbitration No. 23-00643.
Kim is also referenced in a securities arbitration claim in which the customer requested compensatory damages based upon alleged sales practice violations. FINRA Arbitration No. 23-01693 (June 12, 2023).
Kim was associated with E1 Asset Management Inc. in Cortlandt Manor, New York from February 6, 2003, to March 4, 2024.
