July 20, 2022 – David Thomas Hixon (CRD #4707468) was named a respondent in a FINRA complaint alleging that he failed to provide a complete response to FINRA’s requests for information in connection to an investigation. This includes documents related to an investigation into the circumstances of Hixon’s termination from his member firm, in order to determine whether violations of federal securities laws or FINRA rules occurred.
Note: FINRA issued the complaint. Issuance of a disciplinary complaint represents FINRA’s initiation of a formal proceeding in which findings as to the allegations in the complaint have not been made, and issuance does not represent a decision as to any of the allegations contained in the complaint. Because this complaint is unadjudicated you may wish to contact the respondents before drawing any conclusions regarding the allegations in this complaint.
The complaint alleges that Hixon’s firm filed a Form U5, disclosing that David Thomas Hixon had borrowed from a customer. He had, allegedly, also asked other persons–a customer and a coworker–for a loan. Hixon failed to provide complete responses to FINRA’s requests for information. He failed to provide any documentation relating to a receipt of funds in connection with a loan he received from a certain customer, as well as copies of any loan agreements or other related documents to this loan. In addition, he also failed to provide any documentation evidencing his claimed repayment of said loan.
Hixon also failed to confirm whether, apart from the two parties named in FINRA’s requests, he had solicited and/or obtained loans from other customers or coworkers. If he had solicited other loans, no intended purpose has been indicated for any such loan/s.
The missing documentation and information are both material to FINRA’s investigation into the matter of whether Hixon improperly borrowed from a customer, whether or not that customer has been repaid, and whether or why he may have allegedly solicited other customers and coworkers for loans. (FINRA Case #2021070867702)