FINRA TAKES A KNEE, PERMANENTLY BARS BROKER JAMES KNEE FROM SECURITIES INDUSTRY

The Frankowski Firm is investigating potential claims against FINRA-expelled broker James Edward Knee, of Concord, New Hampshire, following Mr. Knee’s permanent bar from the securities industry based on his refusal to cooperate with FINRA’s investigation into allegations that he misappropriated customer funds while licensed with Ameriprise Financial Services, Inc. and Voya Financial Advisors, Inc., from 2012-2016.

According to FINRA’s BrokerCheck report for Mr. Knee, he has been the subject of five customer disputes, two regulatory actions, and one termination for cause since 2002. Voya terminated Mr. Knee in August 2016 due to Mr. Knee’s failure to cooperate in Voya’s internal investigation related to Knee’s potential receipt of a cash gift from a customer by Mr. Knee.

Mr. Knee and Voya were also subject to a customer complaint in February 2017 in which the customer alleged that a document he signed had been altered following his signature and contained an inaccurate representation of his financial picture. While at Ameriprise, a customer complained that Mr. Knee made an unsuitable and unauthorized investment in a customer account. Each of those complaints was settled for more than or equal to the amount of damages alleged by the customer.

The Frankowski Firm is a boutique law firm with a practice focused on securities litigation and arbitration. If you or someone you know lost money as a client of James Edward Knee, Voya, or Ameriprise due to unsuitable, misrepresented, or unauthorized transactions, please call the Frankowski Firm at 888.741.7503 or fill out this contact form.