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Kwasi Aggor: Providence Broker Barred Over Alleged Outside Business

Kwasi Aggor (CRD# 4974222), formerly a representative of TD Ameritrade, was recently sanctioned by the Financial Industry Regulatory Authority in connection to allegations he refused to cooperate with an investigation into his conduct. Previously associated with the firm’s office in Providence, Rhode Island, he was barred from associating with FINRA broker-dealer firms.

According to a Letter of Acceptance, Waiver and Consent (No. 2018060383401) dated April 2020, Kwasi Aggor was associated with TD Ameritrade as a General Securities Representative from November 2008 until October 2018, when the firm filed notice of his termination over allegations he did not “follow firm policy regarding outside business activity reporting.” FINRA subsequently initiated an investigation into whether he participated in undisclosed private securities transactions with a firm client “through an outside business that was not previously disclosed” to TD Ameritrade. In connection with this investigation, FINRA sent him a request on February 28, 2020 to provide on-the-record testimony to FINRA on April 1, 2020. He indicated via an email from counsel on March 26, 2020 that he had received FINRA’s request for testimony, while informing FINRA that he would not appear for the requested testimony “at any time.” FINRA concludes that this refusal constituted violations of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, he was barred from associating with FINRA member firms.

His BrokerCheck report also lists one pending customer complaint against him. Filed in April 2020, it alleges that as a representative of TD Ameritrade he made unsuitable investment recommendations, executed unsuitable transactions, and “misrepresented his qualifications and authority.” The complaint alleges damages of $10,000,000.

Kwasi Aggor is currently not registered as a broker or investment adviser. His previous registrations include TD Ameritrade in Providence, Rhode Island and AXA Advisors in Columbia, Missouri. He has passed three securities industry qualifying examinations and his BrokerCheck report lists zero state securities licenses. (Information current as of June 2, 2020.)

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