Articles Tagged with AXA Advisors

James Davis Trent, of Lexington, South Carolina, was named a Respondent in a Financial Industry Regulatory Authority (FINRA) complaint for allegedly recommending and executing unsuitable mutual fund trades in the accounts of elderly retirees, causing the customers to suffer substantial losses.

FINRA alleged that while employed with AXA Advisors, LLC, James Trent engaged in a pattern of recommending unsuitable short-term trading of Class A mutual fund shares to four customers.  In the 14 transactions at issue, Mr. Trent is alleged by FINRA to have recommended the sale of Class A mutual fund shares within less than a year, on average just six months.  This unsuitable trading activity resulted in the customers incurring over $6,000 in unnecessary sales charges and a commission, for Mr. Trent, of nearly $3,000. Continue Reading

Leon Dixon, a broker formerly registered with AXA Advisors, LLC, submitted a Letter of Acceptance, Waiver, and Consent (AWC) in which he consented to, but did not admit to or deny, the Financial Industry Regulatory Authority’s (FINRA) findings that he participated in private securities transactions in contravention of FINRA rules.

FINRA found that Leon Edward Dixon, of Miami, Florida, invested in a private company that offered telecommunications and broadband services.  Mr. Dixon allegedly solicited 15 firm customers to invest in the company, allegedly assisting the clients with sending their payment checks to the company.  In total, the clients invested approximately $181,500 in the company.  According to FINRA, Mr. Dixon received nearly $15,000 in commissions from the company for his participation in the transactions. Continue Reading