FINRA Suspends Ex-Merrill Adviser Over Crypto Mining Plans
Law360 (June 12, 2019, 7:16 PM EDT) -- A former financial adviser for Merrill Lynch has consented to the Financial Industry Regulatory Authority issuing him a one-month suspension for allegedly starting a cryptocurrency mining business without telling his employer.
While he neither admitted nor denied the regulator's findings, Kyung Soo Kim also agreed to pay a $5,000 penalty to resolve his alleged violation of FINRA's prohibition on engaging in "outside business activity" without providing his firm written notice.
A letter of acceptance, waiver and consent signed Monday states that Kim, who'd been registered with FINRA for most of the last 13 years, formed an S corporation at the height...
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