Paul Kim Allegedly Failed to Follow Investor’s Instructions

Paul Kim (CRD #: 4219593), a broker registered with Stifel, Nicolaus & Company, was the subject of a recent dispute, according to his BrokerCheck record, accessed on August 7, 2022. If you want to know more about Paul Kim’s conduct as a broker, keep reading.

Investor Dispute

On May 24, 2022, an investor alleged that Paul Kim failed to follow instructions, resulting in a total of $1.7 million in losses from January 2022 through the date of filing. They further alleged negligence and fraud. The client sought $1,450,000 in damages but was denied by the firm.

However, investors should know that firms don’t need to allow an outside review before denying disputes. Investors can still seek out FINRA arbitration and potentially recover their losses.

FINRA Rule 2010

FINRA Rule 2010 requires brokers to uphold high standards of commercial honor and ethical conduct.

Discharge from Morgan Stanley

On July 30, 2018, Paul Kim was fired from Morgan Stanley Smith Barney, following allegations concerning his role in processing third-party wire transfer requests in violation of firm procedures.

The firm alleged that Paul Kim provided inaccurate information regarding verbal confirmations of wire transfer requests received via email, that he communicated with an unauthorized party via email, and that he directed another employee to also process wire transfers in violation of firm policies. Paul Kim allegedly informed the firm afterward that the emails were sent by an “imposter.”

Background Information

Paul Kim has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 10 – General Securities Sales Supervisor – General Module Examination
• Series 9 – General Securities Sales Supervisor – Options Module Examination

Paul Kim is a registered broker in eight states and a registered investment adviser in California and Texas.

He has also worked for the following firms:

• Morgan Stanley (CRD#:149777)
• Morgan Stanley & Company (CRD#:8209)
• Wells Fargo Investments (CRD#:10582)
• UBS Financial Services (CRD#:8174)
• Salomon Smith Barney (CRD#:7059)
• Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)

Kurta Law Can Help

If you worked with Paul Kim 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.