National investor fraud law firm KlaymanToskes is investigation ex-Axa Advisors broker Jenna Kang (a/k/a Jihye Kang) (“Jihye Kang Axa Advisors Investigation”) in light of her bar from the securities industry and allegations of forgery from former customers.
According to FINRA BrokerCheck, multiple customers alleged that Jihye Kang opened customer accounts without client authorization. Customer disputes include:
In April 2020, Kang was discharged from Axa Advisors. During a review of a customer complaint, Kang admitted to signing client names to product account applications.
In October 2020, Jenna Kang submitted a Letter of Acceptance, Waiver and Consent (AWC) to FINRA consenting to sanctions. According to FINRA Rule 9216, if FINRA’s Department of Enforcement has reason to believe a member or associated person has committed a violation, and that member or associated person does not dispute the violation, the Department of Enforcement may prepare and request that the member or associated person execute a Letter of Acceptance, Waiver and Consent (“AWC”).
The AWC contains several important details. For instance, the letter will describe:
In Kang’s case, FINRA was investigating allegations that Kang had signed customer signatures on firm documents. FINRA Staff issued Kang request for information and documents. However, Kang refused to provide the requested information and documents.
As a result, Kang violated FINRA Rules 8210 and 2010, and consented to a bar from the securities industry.
According to FINRA, brokerage firms are responsible for the supervision of all the activities of its financial advisors. FINRA rules require the supervision of financial advisor as well as compliance with the securities industry standards of care for the handling of customer accounts as reflected in brokerage firm compliance manuals. The financial brokerage firm compliance manuals provide written procedures designed to achieve compliance with security industry rules and regulations by financial advisors of the firm.
According to BrokerCheck, Jihye Kang was registered as a broker with Axa Advisors from September 2016 to April 2020. The branch office was Los Angeles, California. Her previous employment history includes but is not limited to:
Former customers of former Axa Advisors broker Jihye Kang (Los Angeles, CA) with investment losses that exceed $100,000, and those who may have information relating to the manner in which the broker handled their accounts, are encouraged to contact Lawrence L. Klayman, Esq., at (561) 542-5131.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. KlaymanToskes has recovered more than $220 million for investors in FINRA arbitrations. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Lawrence L. Klayman, Esq. (561) 542-5131