Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker/advisor, Charles Ronald Baker (CRD # 10600) was recently barred from the securities industry by FINRA’s Department of Enforcement after failing to cooperate in an investigation into potential unsuitable and discretionary trading.

The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Baker.

Registration Background for Charles Baker

Charles Baker Barred from Securities Industry by FINRA After Investigation (1)Mr. Baker first became registered in the securities industry in 1973. FINRA BrokerCheck shows that he is currently registered with Castle Rock, CO based Richfield Orion International, Inc. (CRD # 24433). His prior registrations include WFG Investments, Inc (CRD # 22704) from September 1991 to May 2013, Dean Witter Reynolds Inc. (CRD # 7556) from March 1982 to July 1991 and E.F. Hutton & Company Inc (CRD # 235) from March 1974 to April 1982.

FINRA’s Allegations Against Charles Baker

According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated June 6, 2022 (No. 2019062948101), Mr. Baker consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:

  • On June 1, 2022, in connection with an investigation into whether Baker engaged in potential unsuitable and discretionary trading in customer accounts, FINRA sent a request to Baker for on-the-record testimony pursuant to FINRA Rule 8210”;
  • As stated in his email to FINRA on June 2, 2022, and by this agreement, Respondent acknowledges that he received FINRA’s request and will not appear for on-the-record testimony at any time”;
  • By virtue of his actions, Mr. Baker violated FINRA Rule 8210 regarding cooperating with investigations and FINRA Rule 2010 regarding standards of commercial honor and principles of trade.

FINRA Bars Charles Baker from Securities Industry

As a result of such violations and in addition to the above-described findings and conclusions, FINRA’s June 6, 2022 AWC also indicates that Mr. Baker consented to the following sanction(s):

  • A bar from association with any FINRA member in all capacities.

Charles Baker Has A History of Securities Industry Customer Complaints

In addition to Charles Baker being barred by FINRA from the securities industry after failing to cooperate in an investigation into potential unsuitable and discretionary trading, FINRA BrokerCheck for Mr. Baker reveals that he has a history of customer complaints and/or customer-initiated arbitrations including but not necessarily limited to the following:

  • On November 24, 1991 a customer-initiated arbitration was filed naming Mr. Baker as a respondent for alleged actions that occurred while he was registered with Dean Witter. The customer alleged Mr. Baker exercised unauthorized discretion and made unsuitable investment recommendations.  The customer alleged damages of $1,500,000.00. On September 2, 1993, the matter was settled in the amount of $425,000.00.

If you or someone you know has or had a brokerage account with Charles Ronal Baker and have concerns regarding losses in your investments or possible sales practice violations including fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.