Kim Ray Kunz (CRD #718618) Has Regulatory Action and Customer Dispute Disclosures on FINRA BrokerCheck
Kim Ray Kunz (CRD #718618) has been the subject of disclosure events, which have recently been reported on his FINRA BrokerCheck Report. According to Kim Ray Kunz’s FINRA BrokerCheck report accessed on January 18, 2026, Kim Ray Kunz has been the subject of two regulatory events, four customer disputes, one employment termination, and three judgment/lien disclosures. If you invested with Kim Kunz and you have concerns about his activity, keep reading.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Regulatory Action(s)
Kim Kunz FINRA BrokerCheck report reflects two regulatory action disclosures. A summary of the disclosures is below:
On June 30, 2025, FINRA reported a regulatory action in which Kim Kunz consented to an Acceptance, Waiver & Consent (AWC) without admitting or denying the findings. The disclosure states that Kim Kunz violated FINRA Rule 2010 by continuing to engage in securities business while subject to a suspension and statutory disqualification, including relaying customer orders to another registered representative. The matter resulted in a $10,000 fine and a seven-month suspension in all capacities (July 7, 2025 through February 6, 2026). Related document: AWC (June 30, 2025)
On August 5, 2024, FINRA reported a separate regulatory action in which Kim Kunz consented to findings that he willfully violated Regulation Best Interest by recommending that two retail customers invest in a speculative, unrated debt security. The disclosure states that the bonds were considered high-risk and illiquid, while the customers had a stated moderate risk tolerance and an investment objective of income. The matter resulted in a $7,500 fine, $1,927 in restitution (plus interest), and a three-month suspension in all capacities (September 3, 2024 through December 2, 2024). Related document: AWC (August 5, 2024)
Employment Separation
Kim Kunz FINRA BrokerCheck report reflects one employment separation after allegations. According to the disclosure, Westpark Capital, Inc. discharged Kim Kunz on December 27, 2024 after allegations that he failed to comply with the terms of his suspension.
Investor Disputes / Customer Complaints
Kim Kunz’s FINRA BrokerCheck Report reflects four customer dispute disclosures. A summary of two of the disputes is below:
On November 20, 2025, customers allege that between December 2017 and September 2024, Kim Kunz recommended an unsuitable investment (Aspen House DST) that was inconsistent with their risk tolerance and objectives, and that he failed to conduct adequate due diligence or disclose risks. The disclosure further references allegations of misrepresentations, omissions, breach of fiduciary duty, negligence, and violations of Regulation Best Interest and California securities laws. The dispute is pending and seeks $500,000 in damages.
On July 8, 2025, customers filed a dispute relating to their purchase of GWG L Bonds. The disclosure references allegations that include breach of contract, breach of fiduciary duty, failure to act in the customers’ best interests, misrepresentations and omissions, negligence, and violations of FINRA rules and federal and California securities laws. The dispute is pending and seeks $60,000 in damages.
Two additional customer dispute disclosures appear on Kim Kunz’s BrokerCheck report beyond the examples summarized above.
Judgment / Lien
Kim Kunz FINRA BrokerCheck report reflects three judgment/lien disclosures. A summary of two of the disclosures is below:
On June 27, 2019, a tax judgment/lien was reported in the amount of $31,290.44.
On February 20, 2020, a tax judgment/lien was reported in the amount of $96,110.11.
One additional judgment/lien disclosure appears on Kim Kunz’s BrokerCheck report beyond the examples summarized above.
Rule summary #1: FINRA Rule 2111 (Suitability)
FINRA Rule 2111 (Suitability) requires brokers and firms to have a reasonable basis to believe a recommended transaction or investment strategy is suitable for the customer based on the customer’s investment profile and the facts of the recommendation.
Rule summary #2: FINRA Rule 2010
FINRA Rule 2010 is a broad, principles-based rule requiring members and associated persons to observe high standards of commercial honor and just and equitable principles of trade. FINRA frequently cites Rule 2010 in matters involving unethical conduct.
Why this Matters to Investors (Regulation Best Interest)
Regulation Best Interest (Reg BI) is a U.S. securities regulation designed to strengthen the standard of conduct that broker-dealers owe to retail investors when making recommendations about securities transactions or investment strategies. Adopted by the U.S. Securities and Exchange Commission and effective as of June 30, 2020, Reg BI aims to enhance investor protection while preserving investor access to brokerage products and services.
Reg BI requires broker-dealers and financial advisors to act in the best interest of the retail customer at the time a recommendation is made, and not to place their own financial or other interests ahead of the customer’s. This represents a higher standard than the historical “suitability” requirement, which only required that recommendations be suitable, not necessarily optimal or conflict-free.
Reg BI is built around four key obligations:
- Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and recommendations, including fees, scope of services, and conflicts of interest.
- Care Obligation – Recommendations must be made with reasonable diligence, care, and skill, considering costs, risks, and alternatives.
- Conflict of Interest Obligation – Firms must identify, disclose, and mitigate or eliminate conflicts, particularly those that create incentives to favor one product over another.
- Compliance Obligation – Firms must establish policies and procedures designed to ensure compliance with Reg BI as a whole.
Importantly, Reg BI applies at the recommendation level, not as a continuous duty like the fiduciary standard applicable to registered investment advisers. Still, it significantly narrows the gap by emphasizing cost considerations, conflict management, and investor-focused decision-making.
Overall, Regulation Best Interest seeks to promote transparency, improve the quality of investment recommendations, and reinforce trust between retail investors and broker-dealers in the U.S. securities markets.
Background Information (from BrokerCheck)
Based on his BrokerCheck Report, Kim Kunz:
- Is not currently registered as a broker.
- Has passed the Series 24, Series 6, Series 22, SIE, Series 62, Series 1, and Series 63 exams.
- Was previously registered with firms that include Westpark Capital, Inc., VFG Securities, Inc., Financial Advisers of America, LLC, and Financial West Group.
Kurta Law Can Help
If you have worked with Kim Kunz and you have concerns about his activity, Kurta Law may be able to help you evaluate potential recovery options. You may be entitled to pursue a claim through FINRA arbitration, depending on the facts of your situation and the investments involved. Contact Kurta Law at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
Helpful resources: Unsuitable Investments | Stockbroker Fraud
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