Enforcement Actions
Financial Industry Regulatory Authority (FINRA)
CASES OF NOTE
2010
NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.
December 2010
Junior Kim
AWC/2009017798901/December 2010

Kim changed customer telephone numbers to report inaccurate information, without the customersí knowledge or authorization; and by making the changes to customersí contact profiles, he caused the firm to create and maintain inaccurate books and records in the firmís client account information system. Kim was aware that his firmís policies prohibited its employees from making false and misleading entries in its books and records.

Kim subsequently admitted that he made the changes to the customer account information based on the instruction of senior members of his working team, in preparation for their departure from the firm. The findings also included that the firm immediately terminated Kimís employment.

Junior Kim : Fined $5,000; Suspended 30 days; Consented, Agreed, and Undertaken to cooperate fully with FINRA in any and all investigations, litigation or other proceedings that concern, relate to or arise from the matters of the AWC; Kim has agreed to be interviewed by FINRA at such times as FINRA may reasonably request and to appear and testify truthfully and completely in such investigations or hearings as FINRA may reasonably request
Tags:  Changes Of Address         |    In: Cases of Note : FINRA
Bill Singer's Comment
Not as uncommon as you would think. My research suggests that the member firm was UBS (Beverly Hills, CA).
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