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PHX Financial Advisor, Steve Baptist, Suspended By FINRA For Engaging In Unauthorized Trading In Deceased Customers’ Accounts

Steve Baptist (CRD # 5885870) is a Financial Advisor at PHX Financial, Inc. in New York, NY.  Steve Baptist has been in the securities industry since 2011 and previously worked at Joseph Gunnar & Co., MetLife Securities and Investors Capital Corp.    

According to publicy available records released by the Financial Industry Regulatory Authority (FINRA), FINRA recently suspended Steve Baptist from acting as a broker or otherwise associating with a broker-dealer for engaging “in unauthorized trading by placing six trades in the accounts of two customers who were deceased at the time of the trades.” 

For a copy of the FINRA sanction, click http://www.finra.org/sites/default/files/fda_documents/2018058666001%20Steve%20Baptist%20CRD%205885870%20AWC%20va.pdf.

In May 2018, Steve Baptist was “discharged” from Joseph Gunnar & Co. for allegations of unauthorized trading. 

For a copy of Steve Baptist’s BrokerCheck report, click https://brokercheck.finra.org/individual/summary/5885870.

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.  To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities.  Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.  We can be reached at 800.931.8452 or by email at mwolper@wolperlawfirm.com.

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