There are options for clients of Stifel, Nicolaus & Company, Incorporated broker Paul Kim (CRD# 4219593) who lost money investing in stocks. He has been registered with Stifel, Nicolaus & Company, Incorporated in San Jose, California since 2018.
Previously, he was registered with Morgan Stanley in Cupertino, California from 2009 to 2018, when he was terminated regarding, “Allegations about role in processing third-party wire transfer requests in ways inconsistent with Firm procedures, including by providing inaccurate information about verbal confirmations of wire requests received by email, by directing another employee to process wires in ways inconsistent with Firm procedures, and by communicating with an unauthorized party by email. The registered representative subsequently informed the Firm that the email requests were sent by an imposter.”
Paul Kim Customer Complaints
He has been the subject of two customer complaints between 2005 and 2022, one of which was withdrawn, according to his CRD report:
August 2022. “Clients allege registered representative did not follow instructions, resulting in $1.7 million in losses from January 2022 through the present. Claimants’ Statement of Claim asserts causes of action for breach of fiduciary duty, negligence, fraud, breach of contract, third-party beneficiary breach of contract, violation of state securities statutes, violation of Reg BI, and negligent supervision, and requests $1.45 million in damages.” The customer is seeking $1,450,000 in damages and the case is currently pending. The complaint took place while he was registered with Stifel, Nicolaus & Company, Incorporated and it was regarding common and preferred stocks.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Stifel, Nicolaus & Company, Incorporated may be liable for investment or other losses suffered by Paul Kim’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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