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.
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