Sun Hyung Kim of Los Angeles California a stockbroker formerly registered with Kayan Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he made unauthorized trades in customer accounts and had provided FINRA with misleading and false information when he was investigated about his trading activities. Letter of Acceptance Waiver and Consent No. 2019064935601 (Apr. 26, 2021).

According to the AWC, from June 1, 2018 to June 19, 2019, at least 162 trades had been effected in a customer’s account by Kim. There was no point that Kim procured any authorization from the customer in regard to those transactions. He violated FINRA Rule 2010 for this reason.

The AWC stated that Kim also failed to be forthcoming when questioned by FINRA regarding his activities. Kim was prompted by FINRA to confirm whether the customer had provided him with permission to effect the transactions. Kim told the regulator on two occasions that the customer authorized his trading. The regulator determined that this was a lie. FINRA found that Kim violated FINRA Rules 2010 and 8210 for this reason.

FINRA also confirmed that the 162 trades had been mismarked by Kim as being unsolicited when they were in fact solicited by the stockbroker. He violated FINRA Rules 2010 and 4511 because of this.

Kim was registered with Kayan Securities between March 4, 2015 and April 26, 2021.

Tags: ,

Comments are closed.