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Investor Wins $2.76 Million in Karen Chung Dispute

Jun 6, 2022 Failure to Supervise

Karen Chung (CRD #: 4158413), a broker registered with Western International Securities, allegedly failed to supervise, according to her BrokerCheck record, accessed on May 29, 2022. Keep reading if you have questions about Karen Chung’s conduct as a broker.

Alleged Failure to Supervise

On February 16, 2022, an investor alleged that Karen Chung failed to supervise. The investor sought $16,440,221 in damages and the dispute was settled for $2,760,000.

FINRA Rule 3110

Failure to supervise violates FINRA Rule 3110, which requires that firms establish systems of supervision to ensure employees follow FINRA regulations. Firms must create written supervisory procedures and ensure that supervisors are qualified for their roles.

Background Information

Karen Chung has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 24 – General Securities Principal Examination

Karen Chung is a registered broker and a registered investment adviser in California.

She has also worked for the following firms:

  • Independent Financial Group (CRD#:7717)
  • Omni Brokerage (CRD#:16878)
  • Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)

Kurta Law Can Help

If you worked with Karen Chung and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.