FINRA

Hixon was named a respondent in a FINRA complaint alleging that he failed to provide a complete response to FINRA's requests for information and documents in connection with its investigation into the circumstances of his termination from his member firm. The complaint alleges that Hixon's member firm filed a Uniform Termination Notice for Securities Industry Registration (Form U5), disclosing that he had been terminated as a result of concerns that he borrowed from a customer and asked two other persons, one a customer and one a co-worker, for a loan. Hixon failed to provide complete responses to FINRA's requests. First, Hixon failed to provide any documents relating to his receipt of funds in connection with a loan he obtained from a certain customer. Second, Hixon failed to provide copies of any loan agreements or other documents relating to the loan. Third, Hixon failed to provide any documents evidencing his claimed repayment of the loan. Fourth, Hixon failed to confirm whether, apart from the two customers named in FINRA's requests, he had solicited or obtained loans from any other customers or coworkers. Last, if Hixon had solicited other loans, he failed to indicate the intended purpose of any such loans. The missing information and documents are material to FINRA's investigation into whether Hixon improperly borrowed from a customer, whether he repaid that customer, and whether and why he solicited other customers and coworkers for loans.

Pending appeal

Default decision rendered December 16, 2022, wherein Hixon is barred from association with any FINRA member in all capacities. The sanction is based on the findings that Hixon failed to provide information and documents requested by FINRA in connection with its investigation into the circumstances of his termination from his member firm. The findings stated that FINRA requested information and documents relating to Hixon's solicitation and acceptance of loans from two customers, repayment of a loan from a customer, and any documents relating to loans from customers or co-workers. In addition, FINRA wanted Hixon to provide information pertaining to a customer complaint against him regarding an annuity exchange. Although Hixon submitted some information to FINRA, he failed to fully and timely provide much of the requested information and documents. Hixon failed to provide any documents - or state that he had none - relating to his loan and receipt of funds from a certain customer or relating to his repayment of that loan. Hixon also failed to confirm or deny whether he solicited or obtained a loan from any customers other than the customers that were named in FINRA's requests, and, if he did solicit other loans, he failed to state the intended purpose of any such solicited or obtained loan. The information sought, and not provided, was material to FINRA's investigation and necessary to complete its regulatory mandate to fully investigate potential rule violations and to protect the investing public. On January 10, 2023, Hixon appealed the decision to the NAC. The sanction is not in effect pending the review.

FINRA

Respondent Hixon failed to respond to FINRA requests for information.

Letter

Suspension

All capacities

indefinite

Continues until required information is provided to FINRA or the suspension converts to a bar.

1/7/2022

Pursuant to FINRA Rule 9552 and in accordance with FINRA's Notice of Suspension letter dated December 14, 2021, Hixon is suspended on January 7, 2022 from associating with any FINRA member firm in all capacities. If Hixon fails to request termination of the suspension within three months of the date of the Notice of Suspension, he will automatically be barred on March 17, 2022 from association with any FINRA member in all capacities pursuant to FINRA Rule 9552(h).

MSSB

Discharged

Allegations that the representative borrowed from a customer. The customer has since been repaid by the representative.

Client alleged misrepresentation with respect to annuity exchange - April 2020 to August 2020.

$10,615.00