FINRA Bars Former Securities America Advisor for Signing Deceased Client’s Name

Posted on May 24th, 2021 at 1:19 PM
FINRA Bars Former Securities America Advisor for Signing Deceased Client’s Name

From the Desk of Jim Eccleston at Eccleston Law LLC:

According to the Financial Industry Regulatory Authority (FINRA), an ex-Securities American advisor has been barred after allegedly signing his deceased client’s name on several documents while declining to cooperate with FINRA’s investigation. William Dixon, without admitting or denying FINRA’s findings, signed a FINRA Letter of Acceptance, Waiver and Consent (“AWC”) on April 27. According to Dixon’s BrokerCheck report, he was associated with Advisor Group’s Securities America division as a securities representative from September 2016 through October 2019. 

According to the employment termination notice (Form U-5) filed by Securities America, Dixon “admitted to the alleged activity and was subsequently discharged for violating the Firm’s policies and procedures regarding the use of nongenuine client signatures”. FINRA began its investigation into Dixon’s termination in October 2019, which led to FINRA’s sending Dixon a request for the production of documents pursuant to FINRA Rule 8210. After confirming that Dixon had received FINRA’s request, Dixon claimed that he would choose not to produce the required documents. This constituted a violation of FINRA Rules 8210 and 2010, which commonly leads to a bar from the organization. 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

 

Tags: eccleston, eccleston law, FINRA

Return to Archive

TESTIMONIALS

Previous
Next

If the regulators are after you, and are trying to make a case against you, and you are going to contest their allegations against you, make sure you have the best securities industry defense lawyers, Eccleston Law Firm. My case was spun into a combination of penalties including fines, cash settlements, CE courses and suspension. They were the best I have seen in action. When all was said and done, they had done their magic, my situation was negotiated and settled with a simple "letter of caution" and a case closed without action. It is the most important legal business decision you will ever make, make it Eccleston Law.

Rick R.

LATEST NEWS AND ARTICLES

June 14, 2024
Wells Fargo Fires Employees for Faking Work

Wells Fargo & Co. recently terminated over a dozen employees following an investigation into allegations of fake work activities.

June 13, 2024
FINRA Struggles to Revise Outside Business Rules

The Financial Industry Regulatory Authority’s (FINRA) attempt to update its rules on advisors’ outside business activities has stalled, according to Robert Colby, FINRA's chief legal officer.

June 12, 2024
Tax Court Denies Madoff Victims $8.2 Million Deduction

Victims of Bernie Madoff's Ponzi scheme, Christopher and Silvana Pascucci, cannot claim an $8.2 million tax deduction for their investment in life insurance premiums.