Finra bars former NY Life Securities rep over expense cheating

Finra bars former NY Life Securities rep over expense cheating
Ronald J. Knight received $3,900 in reimbursements to which he was not entitled
OCT 30, 2019
The Financial Industry Regulatory Authority Inc. has barred Ronald J. Knight, formerly a broker with NY Life Securities in Timonium, Md., for falsifying 31 expense reports and submitting them to the firm to obtain reimbursement to which he was not entitled. [Recommended video:​ Mary Beth Franklin: Good news on Medicare surcharges] He received approximately $3,900 in reimbursement, Finra said. For 12 of these expenses, which totaled approximately $1,100, Mr. Knight requested reimbursement even though he had not personally incurred the expense. The remaining expenses were personal expenses, which he mischaracterized as business expenses. Register now for our ESG & Impact Forum at the U.N. on Dec. 5. These action took place between approximately February 2015 and August 2016, Finra said. Mr. Knight, who left NY Life Securities in 2017, is no longer employed in the securities industry.

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