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Bae Keun Yu Suspended for Undisclosed Outside Securities Business

FINRA suspended former Kayan Securities, Inc. broker Bae Keun Yu (aka Byron Yu) of Los Angeles for failing to disclose his involvement with Optima Koam Investments, Inc., an outside business activity Yu formed to invest in Korean securities.

AWC #2016047873501

According to the findings, Yu (#4139775) formed Optima Koam in 2013, serving as the company's President, Chief Executive Officer, sole owner, secretary, and CFO. The report states that Yu opened an Optima Koam account at a Korean broker-dealer, in which he executed approximately 100 transactions from 2013 through 2017, purchasing about $600,000-worth of shares in Korean IPOs before selling them after the companies were listed on Korea's stock exchange.

Investigators concluded that by failing to inform Kayan Securities and prior firm SH Investment & Securities of his involvement with Optima Koam Investments, for which Yu received compensation, Yu violated FINRA rules concerning disclosures of outside business activities.

Furthermore, FINRA wrote that Yu violated additional rules concerning disclosure of foreign brokerage accounts, since his corporation purportedly held an account at and invested in Korean-owned entities and stocks.

Yu's BrokerCheck report lists an additional business activity as a secretary at the investment banking firm Hermes Investment, Inc.

If you have invested with ex-Kayan Securities broker Bae Keun Bryon Yu of Southern California or with any broker or financial adviser whose failure to disclose an outside business activity or investment in foreign securities, and these omissions have proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

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The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
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Phone: (800) 699-1881 | Local Phone: (818) 760-9880.
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