Kyle Benjamin Baker, of Wheaton, Illinois, a stockbroker registered with First Trust Portfolios LP, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Baker failed to cooperate in a FINRA investigation. Letter of Acceptance, Waiver, and Consent No. 2020066123601 (April 8, 2024).
According to the AWC, on January 4, 2024, FINRA asked Baker to provide testimony as part of an ongoing investigation, in line with FINRA Rule 8210. This rule authorizes FINRA to demand information and testimony in any investigation from stockbrokers.
Baker’s lawyer initially sought to delay this testimony, and subsequent communications confirmed that Baker would ultimately not attend the scheduled testimony. A final request by FINRA was sent on March 1, 2024, for Baker to appear for testimony. Despite acknowledging receipt of this request, Baker, through his lawyer, informed FINRA on March 12, 2024, that he would not appear at any time for the testimony.
By refusing to comply with the requests for testimony, Baker violated both FINRA Rules 2010 and 8210.
Baker was associated with First Trust Portfolios LP in Wheaton, Illinois from April 27, 2005, to April 8, 2024.
