Kimberly Carson Terminated by Principal Securities

Kimberly Carson (CRD #: 5576304) has been terminated by Principal Securities, according to her BrokerCheck record, accessed on December 30, 2022. If you want to learn more about her conduct as a broker, keep reading.

Termination 

On September 13, 2022, Kimberly Carson has been terminated by Principal Securities following allegations that she engaged in fraud, negligent misrepresentation, and conversion. She allegedly deposited escrow funds from the sale of a client’s house into an account that she controlled. 

Investor Dispute

On March 2, 2022, an investor alleged Kimberly Carson engaged in fraud, negligent misrepresentation, and conversion. The client alleges that, following the sale of her house,  Kimberly Carson deposited escrow funds from the sale into an account the broker controlled.

The investor then loaned $250,000 to Kimberly Carson’s husband, a loan that was supposed to be secured by a deed of trust. 

The investor seeks $250,000 in damages in this pending dispute.

FINRA Rules 2020, 2150, and 2010

FINRA Rule 2020 bans the use of manipulation, deception, and other unethical means of influencing investors’ decisions. This includes misrepresenting the costs, risks, or potential returns associated with an investment.

Conversion, or the improper use of a client’s funds, is prohibited by FINRA Rule 2150, which also limits the circumstances under which brokers can share accounts with clients.

Violations of Rule 2020 are automatic violations of FINRA Rule 2010, which holds brokers to high standards of commercial honor and demands that they act ethically.

What qualifies as broker negligence?

Many behaviors qualify as broker negligence, including misrepresentation of investments, excessive trading, and providing unsuitable investment recommendations. Investors who lose money through broker negligence may be able to recover their losses by seeking FINRA arbitration.

Background Information

Kimberly Carson has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Kimberly Carson is a registered broker in 10 states and a registered investment adviser in California and Texas.

She has also worked for the following firms:

• SCF Investment Advisors (CRD#:123608)
• SCF Securities (CRD#:47275)
• Ameriprise Financial Services (CRD#:6363)
• Waddell & Reed (CRD#:866)

Kurta Law Can Help

If you worked with Kimberly Carson and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.