Jae Hun Kim Barred after Customer Complaints
According to a letter of acceptance, the Financial Industry Regulatory Authority (FINRA) has barred former E1 Asset Management broker Jae Hun Kim (CRD#: 4620963) from associating with any FINRA member at any time.
According to FINRA, the securities regulator, on March 4, 2024, E1 Asset Management filed a Uniform Termination Notice for Securities Industry Registration (Form U5) stating that it had terminated Kim’s registrations through the firm.
On February 26, 2024, in connection with its investigation into a customer arbitration, FINRA sent a letter to Kim requesting the production of information and documents pursuant to FINRA Rule 8210.
According to FINRA, Kim reportedly refused to provide information in its investigation, leading to the bar.
FINRA Rules for Brokers
According to FINRA Rule 8210(a)(1), individuals and entities under FINRA’s jurisdiction must provide information concerning any matter relevant to a FINRA investigation or examination.
Additionally, FINRA Rule 8210(c) mandates that no member or individual shall refuse to provide information or allow inspection and copying of books, records, or accounts as required by this rule.
Violating FINRA Rule 8210 also constitutes a breach of FINRA Rule 2010, which mandates individuals associated with a FINRA member to uphold high standards of commercial honor and just and equitable principles of trade in their business dealings.
FINRA BrokerCheck Report – Jae Hun Kim
According to this FINRA BrokerCheck report, Jae Hun Kim (CRD#: 4620963) was affiliated with E1 Asset Management in Cortlandt Manor, New York. His broker profile indicates that he has 10 disclosures reported, including 8 customer complaints and a bankruptcy filing. Allegations include breach of contract, unsuitability, misrepresentation, negligent supervision, and fraud, among others.
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
Investors can use the tool to verify if a broker or brokerage firm is registered with FINRA, review their employment history, licensing status, and any regulatory actions or complaints filed against them.
Recovery of Investment Losses
When brokers abuse client accounts and conduct transactions that violate securities laws, 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 Seattle, Washington. Our firm has handled over 700 FINRA arbitration claims on behalf of investors.
Free consultation
If you have suffered losses investing with Jae Hun Kim and E1 Asset Management, the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
