Goodman & Nekvasil P.A., May Recover Investor Losses | Jim Jinkook Seol (Jim Seol), Financial Advisor Barred from Securities Industry Pending Appeal
From 1997 until Jim Seol’s discharge in 2014, Jim Seol was licensed with Ameriprise Financial Services, Inc. According to FINRA’s records, Jim Seol was discharged from Ameriprise Financial Services, Inc. on May 28, 2014. Ameriprise Financial Services, Inc. reported to FINRA that Jim Seol was discharged for violation of company policy related to an undisclosed outside business activity.
Subsequent to Jim Seol’s firing by COR Clearing, LLC, FINRA investigated Jim Seol and brought a disciplinary action against Jim Seol. Jim Seol was barred from the securities and investment banking industry by the Financial Industry Regulatory Authority (FINRA) and ordered to pay costs in the amount of $4,440.70 on May 30, 2017. The sanctions were based on findings that Jim Seol engaged in undisclosed outside business activities through engaging in private securities transactions and made misrepresentations to Jim Seol’s member firm in compliance questionnaires. The findings stated that Jim Seol formed a new business to market U.S. investments to overseas investors through the U.S. government’s EB-5 program, which permits foreign investors to obtain a U.S. visa in exchange for investing in projects that create U.S. jobs. According to FINRA, by soliciting the purchase of $100 million of limited partnership interests by Jim Seol’s outside business investors, Jim Seol participated in private securities transactions without prior disclosure to the firm. According to FINRA, shortly after project funding began, both the U.S. Securities and Exchange Commission and FINRA’s Department of Enforcement contacted Jim Seol as part of separate investigations into his business. According to FINRA, prior to these regulator inquiries, Jim Seol concealed Jim Seol’s outside business activities from Jim Seol’s firm. Jim Seol is appealing the decision to the National Adjudicatory Council (NAC). According to FINRA, the sanctions are not in effect pending the appeal.
If you lost any money on investments with Jim Seol, you may be able to recover your losses from Ameriprise Financial Services, Inc. This is because Ameriprise Financial Services, Inc. had a duty to supervise Jim Seol.
If you lost money on investments with Jim Seol and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Ameriprise Financial Services, Inc. concerning Jim Seol’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Jim Seol and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.