I have a ticket open with EB for a while now, this is the answer I received from them: 
  
 This is an issue with the nVidia drivers themselves, possibly in  conjunction with your particular hardware (notebook/laptop). Even  Balance does not allow multiple Direct3D DLLs to be running when playing  on a PunkBuster-enabled server. This has been the case for quite some  time.   
  
You will be able to play if you revert to an old graphics driver  (< v200.00), play on PB servers without restriction kicks or on  servers without PB.  
  
I'm sorry, but this will need to be addressed by nVidia. As far as we know nVidia is about to fix this in an upcoming driver release (see below).  
  
Please note:  
There are drivers available which may fix this problem. Read through  the page carefully before using those drivers. Also check if those are  still the latest available drivers: 32bit and 64bit drivers.  
Please report back if those drivers fixed the issue for you. Thanks! 
  
And also ... 
  
This kick can also be caused by one of the following programs running. Disabling them should stop the kick.  
  
Ventrilo Chat Overlay  
Team Speak Overlay  
DxTweaker  
ATI Tray Tools (depends on version)  
Game Accelerator (uninstall, then reboot)  
Mumble Overlay  
EVGA Precision tool  
IZ3D  
Pando Media Booster  
  
  
In case you run Steam, please do the following:  
  
* Open Steam  
* Go to File-Settings  
* Go to the tab in-game  
* Uncheck the "Enable Steam Community In-Game" checkbox  
* Press OK  
* Restart Steam  
  
  
If you do not have any of these programs running, open this ticket  back up and state what you do have running, especially anything that  might be similar to the above. 
  
I hope this info help any of you guys having the same problem, it did not work for me.