David Lowell Knutson of Southfield Michigan a stockbroker formerly registered with CoreCap Investments Inc. is the subject of a Financial Industry Regulatory Authority (FINRA) investigation into whether Knutson violated federal securities laws or FINRA rules by engaging in outside business activities that failed to be disclosed by him to his securities broker dealer employer and (2) Knutson utilizing unauthorized material for purposes of soliciting investments.
FINRA Public Disclosure additionally reveals that Knutson has been discharged by CoreCap Investments on June 11, 2019 based upon accusations that the procedures and policies of the securities broker dealer had been violated by Knutson through his use of unapproved promotional materials; his engagement in undisclosed activities; and engagement in unapproved seminars.
Also, Knutson is referenced in a customer initiated investment related civil action which was resolved for $50,000.00 in damages founded on allegations that when Knutson was employed by Locus Street Securities Inc., he failed to undertake adequate due diligence before advising the customer to place $100,000.00 in a charitable gift annuity. Civil Action No. IACV42554.
Knutson was employed by CoreCap Investments Inc. between March 12, 2018 and June 11, 2019.
