Nana Kwame Kwakye-Bissah, of Washington, District of Columbia, a stockbroker registered with LPL Financial LLC, is the subject of an enforcement action initiated by the Financial Industry Regulatory Authority (FINRA) in which the regulator is seeking sanctions against Kwakye-Bissah based upon allegations that Kwakye-Bissah failed to respond to requests for documents and information related to an investigation into whether he falsified documents and converted customer funds. Department of Enforcement v. Nana Kwame Kwakye-Bissah, Disciplinary Proceeding No. 2024083571501 (March 27, 2025).
According to the Complaint, on October 7, 2024, LPL filed a Form U5 disclosing Kwakye-Bissah’s termination. The firm alleged that he opened a credit union account using a customer’s personal information without the customer’s knowledge or approval, submitted an electronic distribution request with a fake signature, and made a distribution without the customer’s approval—actions that were all in violation of the firm’s policy.
On October 23, 2024, FINRA sent Kwakye-Bissah a first request for documents and information under Rule 8210. The request was mailed to his address listed in FINRA’s Central Registration Depository (CRD) and also emailed. It asked him to respond in writing to the allegations in the Form U5 and to provide relevant evidence. While USPS tracking confirmed the request was delivered on October 28, 2024, no response was received by the November 6, 2024 deadline.
After receiving no response, FINRA sent a second 8210 request on November 7, 2024, again by both mail and email, with a new deadline of November 21, 2024. This request, identical to the first, also went unanswered.
FINRA contends that the information it sought was material to its investigation, as it directly pertained to whether Kwakye-Bissah had falsified documents and misused customer funds. By failing to respond to both requests, FINRA alleges that Kwakye-Bissah impeded the investigation and violated both Rule 8210 and Rule 2010.
FINRA’s Department of Enforcement has requested that the Hearing Panel find that Kwakye-Bissah committed the alleged violations. The Department is also seeking sanctions under Rule 8310(a), including a potential bar from the securities industry.
Bissah was associated with LPL Financial LLC in Washington, District of Columbia from July 27, 2023 to October 7, 2024.
