Written by The White Law Group• July 8, 2019• 2:46 pm• Blog, Current Investigations

Kyusun Kim (Kenny Kim) Broker Investigation

Kyusun Kim, Independent Financial Group – San Diego, California

Are you concerned about your investments with Kyusun Kim in San Diego, CA? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to a consent order signed on May 29, 2019, the Arizona Securities Division has revoked Kim’s license to work as an investment adviser representative. The order came after the Financial Industry Regulatory Authority (FINRA) barred Kim from working in the securities industry in any capacity.

FINRA reportedly states in a Letter of Acceptance, Waiver and Consent on June 26, 2018, that between 2008 and 2015, Kim allegedly made unsuitable recommendations to numerous senior customers that they concentrate their retirement assets and liquid net worth in speculative and illiquid securities.

Also, Kim purportedly falsely inflated the net worth figures of several customers on their new account forms and other documents so that they appeared eligible to purchase certain speculative investments, in violation of FINRA Rules.

According to his FINRA BrokerCheck report, Kim has 23 customer complaints since 2007. Allegations include wrongful conduct, breach of fiduciary duty, unsuitable investments, breach of contract and financial abuse, among others.

Kim was registered with Sandlapper Securities in San Diego, CA from March 2016 until he was reportedly discharged in August 2018 after FINRA allegedly barred him. Prior to that, he worked for Independent Financial Group in San Diego, CA from 2006 until March 2016.

Securities Fraud Lawsuits

The White Law Group is investigating potential lawsuits regarding the liability that Independent Financial Group may have for failure to properly supervise Kim.

When brokers violate securities laws, such as making unsuitable recommendations, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.

Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states, including California. Our attorneys have recovered millions of dollars from many brokerage firms in the past.