[ by Melanie Gretchen ]

A Registered Principal, with a clean record during his 9 years with several firm - including Murphy & Durieu, Ladenburg, Thalmann, First American Capital and Trading Corp. - was "ticketed out of the industry" by FINRA for failing to testify during an investigation into matters related to the branch office he managed. 

Profile of Respondent.  From December 1988 to June 2006, John Boyd Dexter, a general securities rep and general securities principal, was associated with 5 FINRA firms - including Ladenburg, Thalmann (1 year) and First American Capital and Trading (3 years).  From June 2006 until June 2012, Dexter was associated with Murphy & Durieu.  He currently is not employed in the securities industry, although his licenses - Series 7, 9, 10, 24, 55, and 63 - are still active. 

FINRA Findings and Allegations.   While at Murphy & Durieu, Dexter worked as the branch manager ("BOM") for the firm's office in Ft. Lauderdale, FL, In December 2011, FINRA began an investigation into alleged suspicious activity at the Dexter's branch office, and on 9/7/12, requested in writing that Dexter provide in-person testimony in connection with the investigation in October.  In early October, Dexter called FINRA staffers to advise that he would not provide testimony or cooperate with Enforcement's investigation because he no longer was employed in the securities industry.

FINRA Sanctions.  For failing to cooperate with the investigation, Boyd was barred from the industry,  Up until this time, he had had no disciplinary history with FINRA – and apparently, he never will.  

This case was reported in FINRA's Disciplinary Action for January 2013. 

For further details, go to:    [FINRA AWC #2011030204601, January 2013]