Kansas Securities Commissioner Aaron Jack issued an Emergency Order summarily suspending Wichita Investment Adviser Representative Eric T. Burns.
Burns, an investment adviser representative of Dimensions Financial Group, Inc. from November 2007 until March 2011 and, more recently, with Morgan Stanley Smith Barney from August 2011 until October 2011, was suspended for failing to comply with a request for information by staff of the Office of the Kansas Securities Commissioner.
According to the Order, the Office of the Securities Commissioner received a complaint alleging Burns misappropriated client funds while at Dimensions Financial Group, Inc. The Order goes on to describe the efforts of the Commissioner’s staff to obtain information from Burns with regard to the complaint and Burns’ failure to comply with the requests.
“Regulation of the securities industry is a partnership with the registered professionals providing services to the public. The vast majority of Kansas’ financial professionals conduct themselves in a highly ethical manner. However, occasionally one will fail to uphold their professional responsibility and our office must then act swiftly to protect Kansas investors,” said Jack.
A copy of the Order may be found at: http://www.ksc.ks.gov/archives/46/Eric%20Burns%20Summary%20suspension%2011-08-11.pdf
For questions related to Eric Burns, please contact Erin Hoestje, Staff Attorney – Corporate Finance, at (785) 296-5215.
The Office of the Kansas Securities Commissioner is responsible for registration and regulation of securities offerings and those working in the securities industry, investigation of illegal securities activities and prosecution of securities-related crimes. For more detailed information about the Office of the Kansas Securities Commissioner visit www.ksc.ks.gov.