Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Kim Ray Kunz (CRD#: 718618, Atascadero, California). Kunz was previously registered with WestPark Capital Inc. from November 2017 to January 2025, and has worked at several other firms throughout his 44-year career in the securities industry.
Recent disclosures highlight regulatory actions and client disputes concerning allegations of unsuitable investment recommendations and misrepresentation of investment risks.
On August 5, 2024, FINRA initiated a regulatory action (Case No. 2021070498103) against Kunz for alleged violations of Rule 15/-1(a)(I) of the Exchange Act (Reg BI). Evidently, FINRA found that Kunz willfully violated this rule by recommending speculative, unrated debt securities to two retail clients who had moderate risk tolerance and an investment objective of income, making the investments unsuitable.
As a result, FINRA imposed a $7,500 fine and a three-month suspension from September 3, 2024, to December 2, 2024
Evidently, following the regulatory sanctions, WestPark Capital Inc. terminated Kunz’s employment on December 27, 2024, citing his failure to comply with the terms of his suspension as the reason for discharge.
February 24, 2023 - Client Arbitration (FINRA Case No. 23-00479). Evidently, the client accused Kunz of selling an unsuitable, illiquid, and risky investment (GWG Bonds) and overconcentrating their portfolio in one investment. This matter settled for $100,000 on January 19, 2024.
August 17, 2022 - Client Arbitration (FINRA Case No. 22-01748). Specifically, the client alleged unsuitability and omission of material facts, claiming they purchased an investment that later resulted in Chapter 11 Bankruptcy. This matter settled for $100,000 on August 29, 2023.
If you have concerns about Kim Kunz or the investments recommended to you, contact Soreide Law Group for a free consultation. Call (888) 760-6552 or reach out online to speak with a securities lawyer. The team at Soreide Law Group works on a contingency basis, advances all costs, and assists clients throughout the country with recovering losses from sales practice misconduct. Kunz and the firms he worked for deny accusations of sales practice violations.
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