Securities Arbitration Lawyer Blog
The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker William Dixon. from the securities industry. Mr. Dixon was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation. FINRA’s investigation originated after Securities America, Inc. discharged Mr. Dixon and alleged that he signed his deceased client’s signature and initials on multiple annuity surrender forms.
Mr. Dixon was registered with Securities America, Inc. in Urbana, Ohio, from September 2016 until October 2019.
If you have suffered financial losses investing with William Dixon or Securities America, Inc., contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential review of your account.
Iorio Altamirano LLP represents investors nationwide that have disputes with their financial advisors or brokerage firms, such as Securities America, Inc.
FINRA Letter of Acceptance, Waiver, and Consent No. 2019064188001
William H. Dixon and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on May 11, 2021, after Mr. Dixon refused to provide information and documents in connection with FINRA’s investigation. The investigation originated after Securities America, Inc. discharged Mr. Dixon and alleged that he signed his deceased client’s signature and initials on multiple annuity surrender forms.
On April 1, 2021, in connection with FINRA’s investigation, FINRA sent a letter to Mr. Dixon requesting the production of documents and information pursuant to FINRA Rule 8210. On April 16, 2021, Mr. Dixon, through counsel, stated on a phone call that he would not provide the requested information or documents at any time.
By refusing to provide the information or documents, Mr. Dixon violated FINRA Rules 8210 and 2010.
Financial Advisor William H. Dixon (CRD No. 68881)
William H. Dixon had 47 years of experience in the securities industry. According to his BrokerCheck report, he has been the subject of at least two customer complaints:
- Customer Dispute (September 2016): A customer provided a written complaint to Prudential, alleging that the variable annuity that was recommended by Mr. Dixon was not suitable. Prudential forward to the complaint to Wall Street Financial Group, which employed Mr. Dixon at the time. The firm denied the customer any compensation.
- Customer Dispute (September 2008): A customer alleged that sales charges related to a variable annuity were not disclosed. The customer did not file a securities arbitration complaint and instead complained directly to the firm, Wall Street Financial Group. The firm denied the customer any compensation, stating that it found insufficient evidence to support the claim.
Supervisory Duties
Brokerage firms like Securities America, Inc. must properly supervise financial advisors and customer accounts. Brokerage firms must also establish and maintain a reasonably designed system to oversee account activity to ensure compliance with securities laws and industry regulations. When a brokerage firm fails to sufficiently supervise its financial advisors or the investment account activity, it may be liable for investment losses sustained by customers.
How to Recover Financial Losses or Obtain a Free Consultation
If you have lost money with financial advisor William Dixon or Securities America, Inc., contact New York securities arbitration attorney August Iorio of Iorio Altamirano LLP. August Iorio can be reached at august@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.
Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. Iorio Altamirano LLP pursues FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by stockbrokers and brokerage firms.