David Hixon Sanctioned Over Improper Money Borrowing, Loans

Attorney Advising Disclaimer

FINRA extended its indefinite suspension of former Morgan Stanley broker David Thomas Hixon of Arizona for allegedly borrowing from a customer and seeking additional loans from other customers and a co-worker at Morgan Stanley. A former client of Hixon's at Morgan Stanley filed a complaint alleging misrepresentation regarding a variable annuity exchange, eventually reaching a settlement in early 2021.

The Department of Enforcement filed a complaint with FINRA's Office of Hearing Officers, writing that David Hixon (CRD #4707468) failed to adequately respond to FINRA's request for information and documents in connection with the investigation.

According to FINRA's filing, Hixon claimed that he repaid any loans agreed to with his customers or coworkers, but failed to provide any documents to substantiate this claim.

Morgan Stanley of Scottsdale, Arizona terminated Hixon in March 2021 based on allegations that he borrowed from a customer, which is prohibited by firm and industry policy.

If you invested with ex-Morgan Stanley representative David T Hixon or with a broker or investment adviser who improperly borrowed money from you or otherwise engaged in a loan in contravention of firm policies that prohibit a broker from entering into such a borrowing relationship with a client, and have suffered losses or financial damages as a result of this illicit conduct, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

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