Charles Albert Dixon, Junior, of Houston, Texas, a stockbroker formerly employed with Morgan Stanley Smith Barney, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into Dixon’s alleged unauthorized trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2017053935201 (Jan. 22, 2018).
According to the AWC, on December 22, 2017, a request had been sent by FINRA to Dixon for his recorded testimony relating to Dixon’s possible exercising of discretion in customer accounts without procuring written authorization from them. Evidently, on January 8, 2018, Dixon confirmed with FINRA personnel that he understood the regulator’s request for his testimony but would at no point be cooperating in FINRA’s investigation. FINRA concluded that Dixon’s refusal to make an appearance and provide testimony constituted violations of FINRA Rules 2010 and 8210.
FINRA Public Disclosure reveals that Dixon has been identified in two customer initiated investment related disputes containing accusations of Dixon’s misconduct while employed with Morgan Stanley. Specifically, a customer initiated investment related arbitration claim involving Dixon’s conduct was settled for $99,900.00 in damages supported by allegations that Dixon placed unsuitable transactions in the customer’s account and churned the customer’s equity portfolio. National Association of Securities Dealers (NASD) Arbitration No. 06-02020 (Nov. 22, 2006).
Thereafter, on August 7, 2017, a customer brought an investment related written complaint regarding Dixon’s activities, requesting $500,000.00 in damages founded on accusations that between June of 2013 and July of 2016, Dixon effected unauthorized stock trades in the customer’s account.
On March 21, 2017, Dixon was fired by Morgan Stanley Smith Barney, LLC, based upon allegations that he placed trades on a discretionary basis in customer accounts without authorization, and was subject of a customer initiated investment related complaint.
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