PASADENA, CA, USA, March 26, 2024 /EINPresswire.com/ — National investment loss and securities lawyers KlaymanToskes issues an important notice to customers of Western International Securities and financial advisor Karen Chung, urging all current and former customers of Western International Securities’ Pasadena, CA branch to contact the firm immediately to discuss legal options at 888-997-9956.
KlaymanToskes reports that the firm has launched an investigation into Western International Securities’ Pasadena, CA branch, and financial advisor Karen Chung. According to FINRA BrokerCheck, financial advisor Karen Chung (CRD# 4158413) has recently been hit with a customer complaint alleging failure to supervise, which was settled in favor of the investor for $2,760,000.
Recently, Western International Securities and its advisors have encountered a series of regulatory issues, including allegations of misconduct and failure to supervise, prompting concerns regarding the firm’s compliance practices and the best interests of its clients. In June 2022, the Securities and Exchange Commission charged Western International Securities and five of its registered financial advisors (Case No. 2:22-cv-04119) with violations related to the sale of alternative investments such as GWG L Bonds. Most recently, Western International consented to a censure and agreed to pay over $870,000 in fines and restitution to customers, in connection with unsuitable recommendations to its customers to invest in non-traded REITs and ETFs.
Financial advisors and their firms may be held liable for any losses incurred by their customers in the event of unsuitable investment recommendations, misrepresentations or omissions of material facts, and/or an overconcentration of the customer’s portfolio in one particular investment, class, or market sector. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making investment recommendations.
Current and former customers of Karen Chung and/or any other financial advisor who suffered investment losses at Western International Securities are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or by email at lawrence@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Lawrence L. Klayman, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
lawrence@klaymantoskes.com