Sylvester Knox Fined and Suspended by FINRA

Sylvester Knox (CRD#: 1625705), formerly with Merrill Lynch of Short Hills, New Jersey, has been fined $10,000 and suspended for nine months by FINRA.  His suspension is in effect from 8/17/2020 through 5/16/2021.
According to the FINRA report, without admitting or denying FINRA’s findings, Sylvester Knox consented to the sanctions and to the entry of findings that he allegedly effected transactions with a total principal value of approximately $1.7 million in the accounts of clients of his member firm without the clients' authorization or consent.
FINRA’s findings alleged that Sylvester Knox exercised discretionary trading authority and effected transactions with a total principal value of approximately $2 million in the accounts of firm clients without having obtained prior written authorization from the clients or approval from the firm to treat the accounts as discretionary.
According to FINRA’s findings, Sylvester Knox allegedly failed to timely disclose a felony indictment through the filing of an amended Form U4. Also, FINRA alleges Knox falsely attested on firm compliance questionnaires that he had not been charged with a felony and on one compliance questionnaire that he did not use discretionary trading authority. Knox also made misstatements to the firm regarding whether the clients authorized transactions when responding to supervisory inquiries.
According to FINRA’s BrokerCheck, available on FINRA’s website, Sylvester Knox has 30 Disclosures.  Of the 30 Disclosures, there are 25 Customer Disputes dating back to 1999. Some of the allegations listed in the 25 complaints are, in part, “unauthorized trading, misrepresentation and omission of material facts, unauthorized account activity, unsuitable investment strategy and failure to follow instructions.”
Sylvester Knox has 29 years of experience in the securities industry and was listed with 8 firms, the most recent below:
01/12/2017 - 08/15/2018  FSC SECURITIES CORPORATION - SHORT HILLS, NJ
08/07/2000 - 02/03/2017  MERRILL LYNCH, PIERCE, FENNER & SMITH INC - SHORT HILLS, NJ
If you’ve experienced losses due to the recommendations or actions of Sylvester Knox, formerly of Merrill Lynch and FSC Securities, both of Short Hills, New Jersey, contact an experienced securities lawyer at Soreide Law Group at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis and represents clients nationwide before FINRA.