March, 2025 | Based in Santa Monica, CA
Concerned about potential investment losses? Reach out today to discuss your situation with our experienced securities attorneys. Call 800-950-6553 or complete our online form form to schedule your no-obligation case evaluation.
Essential Information About Mimi Yoo Park
- Full Name: Mimi Yoo Park
- CRD Number: 4684111
- Current Location: Santa Monica, CA
- Current Employer: U.S. Bancorp Investments, Inc.
- Office Address: 2232 Santa Monica Blvd, Santa Monica, CA 90404
- Registration Status: Currently registered with 1 Self-Regulatory Organization and 11 U.S. states and territories
- State Licenses: Alaska, Arizona, California, Connecticut, Delaware, Massachusetts, Minnesota, Nevada, New York, Oregon, Texas
- Experience: In the industry since 2003
- FINRA BrokerCheck: Two customer disputes (denied) and one criminal disclosure (misdemeanor)
- Previous Employers: LPL Financial LLC, Wells Fargo Clearing Services, LLC, Summit Brokerage Services, ING Financial Partners, AXA Advisors
- Ability to Recover Losses: May be eligible for FINRA arbitration depending on timing of investments
Recent Allegations of Misconduct
U.S. Bancorp Investments’ financial advisor Mimi Yoo Park is currently under scrutiny following troubling allegations from investors. These complaints raise serious concerns about potential investment fraud and misconduct that all current and former clients should be aware of. Our law firm’s investigation has uncovered concerning patterns that warrant immediate attention.
The most significant complaint against Park involves allegations of misappropriation of funds, a serious violation of financial industry regulations. According to FINRA BrokerCheck records, in November 2024, a customer alleged that Park misappropriated funds and refused to execute a requested wire transfer. The estimated damages in this case were approximately $600,000, representing a substantial potential loss for the investor involved.
This was not an isolated incident. In September 2023, another customer filed a complaint alleging that $9,100 was lost when Park failed to execute an order as requested. Both complaints were denied by the firm, but the pattern of alleged misconduct is concerning and warrants further investigation by regulatory authorities and affected investors.
Background and Professional History
Mimi Yoo Park has been working in the financial services industry since 2003, when she first became registered with AXA Advisors, LLC. Her FINRA BrokerCheck report shows that she has passed several securities industry examinations, including the Securities Industry Essentials Examination (SIE), General Securities Representative Examination (Series 7), and Investment Company Products/Variable Contracts Representative Examination (Series 6).
Throughout her career, Park has been employed by various financial firms:
- S. Bancorp Investments, Inc. (November 2022 – Present)
- LPL Financial LLC (September 2017 – November 2022)
- Wells Fargo Clearing Services, LLC (June 2013 – September 2017)
- Summit Brokerage Services, Inc. (March 2011 – June 2013)
- ING Financial Partners, Inc. (September 2008 – March 2011)
- AXA Advisors, LLC (September 2003 – August 2008)
Park is currently registered in multiple states including Alaska, Arizona, California, Connecticut, Delaware, Massachusetts, Minnesota, Nevada, New York, Oregon, and Texas. She works out of several branch office locations in the Los Angeles area, primarily at the Santa Monica Boulevard office.
Concerning Disclosures and Past Issues
In addition to the recent customer complaints, Park’s BrokerCheck report reveals a criminal disclosure from February 1999, before she entered the securities industry. The record indicates a misdemeanor charge for theft of property, to which she entered a nolo contendere plea. According to the report, the charge was not investment-related, and the record was eventually expunged after completion of community service.
While this criminal charge predates her financial industry career, it is notable when considered alongside the more recent customer complaints alleging misappropriation of funds and failure to execute trades. Together, these disclosures may suggest a concerning pattern that investors should be aware of.
Red Flags and Warning Signs for Investors
Based on the complaints against Mimi Yoo Park, investors should be alert to several potential red flags when working with any financial advisor:
1. Misappropriation of Funds
The allegation that Park misappropriated client funds is extremely serious. Misappropriation occurs when a financial professional improperly takes or uses client money for purposes other than what was authorized. This violation of trust is one of the most severe forms of financial misconduct and can lead to significant penalties, including permanent industry bars and criminal charges.
2. Failure to Execute Trades
The complaint that Park failed to execute a client’s order, resulting in financial loss, is another significant concern. Brokers have a duty to execute trades promptly and in accordance with client instructions. Failure to do so can result in missed opportunities or losses if market conditions change.
3. Unauthorized Trading
While not explicitly mentioned in the complaints against Park, unauthorized trading often goes hand-in-hand with other forms of misconduct. This occurs when a broker makes trades in a client’s account without proper authorization.
4. Lack of Communication
Good financial advisors maintain regular, clear communication with their clients. If you notice your advisor is difficult to reach, avoids discussing certain investments, or is vague about the status of your account, this could be a warning sign.
5. Unexpected Account Activity
Unusual or unexpected activity in your investment accounts—such as frequent trading you didn’t authorize, unexpected fees, or transfers between accounts—should prompt immediate investigation.
Legal and Regulatory Framework
Financial advisors like Mimi Yoo Park are subject to strict regulations designed to protect investors. Key rules that may apply to the allegations against Park include:
FINRA Rule 2010 – Standards of Commercial Honor and Principles of Trade
This fundamental rule requires brokers to observe high standards of commercial honor and just and equitable principles of trade. Misappropriation of client funds would constitute a clear violation of this rule.
FINRA Rule 2150 – Improper Use of Customers’ Securities or Funds
This rule specifically prohibits members or associated persons from making improper use of a customer’s securities or funds. The allegations of misappropriation would directly implicate this rule.
FINRA Rule 5310 – Best Execution and Interpositioning
This rule requires that brokers use reasonable diligence to ensure the best execution of customer orders. Failure to execute orders as directed could violate this obligation.
SEC Regulation Best Interest (Reg BI)
Implemented in 2020, Reg BI establishes a “best interest” standard of conduct for broker-dealers and associated persons when making recommendations to retail customers. This includes the obligation to act in the customer’s best interest and not place the financial or other interests of the broker ahead of the customer’s interests.
Fiduciary Duty
In many circumstances, investment advisers have a fiduciary duty to their clients, meaning they must act in their clients’ best interests. This includes duties of loyalty and care that prohibit misappropriation of funds and require proper execution of trades.
Guidance for Affected Investors
If you have invested with Mimi Yoo Park and are concerned about potential misconduct, consider taking the following steps:
1. Review Your Account Statements
Carefully examine all account statements for unauthorized transactions, unexplained withdrawals, or other suspicious activity. Compare the statements with any trade confirmations or other communications you received from Park or U.S. Bancorp Investments.
2. Document Everything
Maintain a detailed record of all communications with Park, including emails, letters, and notes from phone conversations or meetings. Save copies of all account statements, trade confirmations, and other relevant documents.
3. Request Clarification in Writing
If you identify concerning transactions or discrepancies, request a written explanation from Park and her supervisors at U.S. Bancorp Investments. Document when and how you made this request.
4. File a Complaint with Regulatory Authorities
Consider filing a complaint with:
- FINRA through their Investor Complaint Center
- The Securities and Exchange Commission (SEC)
- Your state securities regulator
- The Consumer Financial Protection Bureau (CFPB)
5. Understand the Time Limitations
Be aware that there are strict time limitations for bringing claims against brokers and brokerage firms:
- FINRA arbitration claims generally must be filed within six years of the event giving rise to the claim
- State and federal statutes of limitations may also apply, potentially limiting the time to bring certain claims to as little as one to three years
6. Consult with a Securities Attorney
Perhaps most importantly, consult with an experienced securities attorney who specializes in investment fraud and broker misconduct cases. A skilled attorney can evaluate your specific situation, help determine if you have a viable claim, and guide you through the recovery process.
How Our Securities Fraud Attorneys Can Help
Our law firm specializes in representing investors who have suffered losses due to broker misconduct, investment fraud, or securities violations. We have extensive experience handling cases similar to the allegations involving Mimi Yoo Park and have successfully recovered millions of dollars for our clients.
When you work with our securities fraud attorneys, you benefit from:
Comprehensive Case Evaluation
We begin with a thorough review of your investment history, account statements, and communications with your broker. Our forensic analysis can identify patterns of misconduct that might not be immediately obvious.
Expert Legal Representation
Our attorneys are well-versed in FINRA rules, securities regulations, and the complexities of investment fraud cases. We have successfully represented clients in FINRA arbitration, federal and state courts, and regulatory proceedings.
No Recovery, No Fee
We handle investment fraud cases on a contingency fee basis, meaning you pay no legal fees unless we recover money on your behalf. This allows you to pursue justice without additional financial burden.
Detailed Forensic Analysis
Our team works with financial experts to conduct detailed analyses of trading patterns, account statements, and other financial records to build the strongest possible case for recovery.
Strategic Approach to Recovery
We develop customized strategies based on your specific situation, whether that involves FINRA arbitration, mediation, or other legal actions. Our goal is always to maximize your recovery while minimizing stress and delay.
If you’ve invested with Mimi Yoo Park and have concerns about how your investments were handled, don’t wait to take action. Securities fraud cases are time-sensitive, and delays can impact your ability to recover losses. Take the first step toward protecting your financial future by reaching out to our experienced team today. Call 800-950-6553 or fill out our confidential online contact form to discuss your potential case with no obligation.
