Charles Ronald Baker (also known as Ron Baker) of Lubbock, Texas, a stockbroker formerly registered with Richfield Orion International Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Baker did not cooperate with the regulator regarding its investigation into his possible unsuitable and unauthorized trading during the time that he was registered with Richfield Orion International. Letter of Acceptance Waiver and Consent No. 2019062948101 (June 15, 2022).
According to the AWC, FINRA examined Richfield Orion International in 2019, resulting in its investigation into Baker’s activities. The AWC states that on June 1, 2022, Baker was asked by FINRA to testify regarding his activities, as the regulator sought to determine if those trades were unsuitable or made on a discretionary basis without written authorization.
FINRA states that on June 2, 2022, Baker told FINRA that he received its request and that he would not cooperate with the regulator at any point by testifying. FINRA found that Baker violated FINRA Rules 2010 and 8210 for this reason.
Baker has been identified in four customer initiated investment related disputes containing accusations of his activities while he was associated with securities broker dealers, including Williams Financial Group and Dean Witter Reynolds. FINRA Public Disclosure shows that a customer initiated investment related civil action regarding Baker’s conduct was settled to resolve allegations of failure to supervise when Baker was employed by Dean Witter Reynolds.
A customer initiated investment related FINRA securities arbitration claim concerning Baker’s activities was settled for $425,000.00 in damages based upon accusations of unsuitable recommendations by Baker concerning limited partnerships while Baker was associated with Dean Witter. The claim alleges that unauthorized trades were made by Baker at the securities broker dealer.
Baker is also the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $40,000.00 in damages founded on allegations of sales practice violations. Another customer filed an investment related complaint involving Baker’s conduct in which the customer sought $200,000.00 in damages supported by accusations of poorly performing options, mutual funds, and over-the-counter equities during the time that Baker was registered with Williams Financial Group.
