Former PHX Financial Broker Named in FINRA Complaint Alleging Excessive Trading

Halil Kozi, a former registered representative with PHX Financial, Inc., was named a Respondent in a Financial Industry Regulatory Authority (FINRA) complaint for allegedly engaging in excessive trading, known as churning, in his customer’s account, causing his customer to suffer losses of nearly $72,000. FINRA’s complaint alleges that Halil Kozi, of Middletown, New Jersey, allegedly exercised complete control over the trading in his customer’s account.  Mr. Halil engaged in trading of equities and options, of which he is alleged to have known his customer lacked experience and knowledge.  The complaint alleges that Mr. Halil used high-pressure sales tactics on his customer, and the customer routinely followed his recommendations.  FINRA further alleges that the recommendations were unsuitable for his customer in light of the customer’s moderate risk tolerance and balanced growth investment objective.

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