Kimberly Ann Carson (also known as Kimberly Beveridge) of San Jose, California, a stockbroker previously registered with SCF Securities Inc., has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Carson “borrowed” customer funds. Letter of Acceptance, Waiver, and Consent No. No. 2022074541501 (January 24, 2024).
In December 2019, while associated with SCF Securities Inc., Carson engaged in an unauthorized borrowing transaction with a customer. According to the AWC, the customer issued a loan based on a promissory note signed by Carson’s spouse, involving monthly interest-only payments at a fixed 10 percent annual rate over a 10-year period. The full loan amount was supposed to be paid back at the end of the 10-year term. The funds were deposited into a bank account jointly owned by Carson and her husband. This all occurred without the required approval from SCF Securities Inc. Therefore, she violated the firm’s policies and FINRA Rules 3240 and 2010.
FINRA Public Disclosure additionally shows that on March 10, 2022, a customer filed a civil action against Carson involving her conduct while associated with SCF Securities Inc. The customer sought $250,000.00 in damages, alleging that Carson made misrepresentations of material fact and an unsuitable recommendation in a real estate loan transaction involving a promissory note tied to Carson’s personal real estate residence. Civil Action No. 22CV394807.
Carson was associated with SCF Securities Inc. in Campbell, California, from June 18, 2018, to May 26, 2020. Following this, she was associated with Principal Securities Inc. in San Jose, California, from May 8, 2020, to September 27, 2022,
