Donald Eugene Baxter of Wichita Kansas a stockbroker formerly registered with SII Investments Inc. is referenced in a customer initiated investment related written complaint which was resolved for $23,726.63 on May 31, 2017 based upon allegations that Baxter was placed into a variable annuity that was not suitable for the customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Baxter has been identified in three additional customer initiated investment related disputes containing accusations of Baxter’s misconduct while employed with Primeline Securities, Inc., FFP Securities and SII Investments. In particular, a customer initiated investment related civil action involving Baxter’s conduct was settled for $150,000.00 in damages founded on allegations of suitability pertaining to direct participation program interests or limited partnership interests. Case No. 6668-4.
On March 9, 2004, another customer filed an investment related complaint regarding Baxter’s activities in which the customer requested $7,900.00 in damages supported by accusations that misrepresentations had been made to the customer regarding a variable universal life insurance policy. Further, on September 15, 2015, a customer filed an investment related complaint involving Baxter’s conduct where the customer sought $26,494.96 in damages based upon allegations that Baxter effected mutual fund and stock transactions in the customer’s account without obtaining the customer’s authorization beforehand.
Baxter has also been fined $500.00 and suspended by the Kansas Securities Commission by consenting to findings that while associated with Primeline Securities, Inc., Baxter inappropriately advised a customer to invest in sixteen direct participation programs. Case No. 93E052/92-2267.
Baxter’s registration with SII Investments has been terminated as of December 1, 2017. Since December 8, 2017, he has been employed by Sagepoint Financial, Inc.
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