What You Need to Know
- The former Securities America rep was terminated by the company in 2016 over allegations he signed his dead client’s name.
- FINRA investigated the ex-broker's termination, and he declined to provide documents it requested.
- Failing to produce documents in an investigation is the most common cause of a FINRA bar.
A former Securities America broker who was accused of signing his deceased client’s name on multiple documents against company policy has been barred by the Financial Industry Regulatory Authority after he refused to cooperate with FINRA’s investigation into his termination, according to the industry self-regulatory organization.
Without admitting or denying FINRA’s findings, William H. Dixon signed a FINRA letter of acceptance, waiver and consent on April 27, in which he consented to the imposition of FINRA’s sanction against him. FINRA signed the letter Tuesday.
Dixon was associated with Advisor Group’s Securities America division as a general securities representative and general securities principal from September 2016 until October 2019, according to his report on FINRA’s BrokerCheck website.
He was terminated by Securities America on Sept. 16, 2016, after he was the “subject of allegations that he signed his deceased client’s signature and initials to multiple annuity surrender forms,” according to a disclosure by the firm on his BrokerCheck report.
What Your Peers Are Reading
Dixon “admitted to the alleged activity and was subsequently discharged for violating the Firm’s policies and procedures regarding the use of nongenuine client signatures,” according to Securities America.