Stephen John Woods of Hauppauge New York is a stockbroker formerly registered with PHX Financial Inc. who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he obstructed a FINRA investigation into allegations of his trading in customer accounts. Letter of Acceptance Waiver and Consent No. 2017052732401 (Mar. 15, 2018).
According to the AWC, FINRA launched an investigation into Woods during the time that he was associated with PHX Financial, Inc. Apparently, on December 1, 2017, a request was sent by FINRA personnel to Woods according to FINRA Rule 8210, where Woods was asked to provide information and documentation to FINRA personnel so that FINRA could examine Woods’ trading activities for potentially violative conduct.
The AWC revealed that Woods’ counsel provided FINRA personnel with a response on December 28, 2017, confirming that Woods was cognizant of FINRA’s request but would not be providing the information and documentation at any point. FINRA found that Woods’ failure to cooperate in the investigation was violative of FINRA Rule 2010 and 8210, which led to Woods having been barred by FINRA in all capacities.
This is not the first time that Woods has been sanctioned by FINRA for misconduct. In particular, Woods has been fined $5,000.00 and suspended from associating with any FINRA member in any capacity by consenting to findings that he settled a customer dispute away from his former employer Point Capital, Inc; conduct violative of National Association of Securities Dealers (NASD) Conduct Rule 2110. Letter of Acceptance, Waiver and Consent, No. 2008015754101 (Jul. 23, 2009). Woods was fired from Pointe Capital, Inc. on April 21, 2008, based upon accusations that he solicited customers to transfer their investments away from Point Capital during the time that Woods was still registered with the firm.
FINRA Public Disclosure additionally reveals that on July 24, 2013, a customer filed an investment related written complaint that pertained to Woods’ conduct in which the customer sought $215,000.00 in damages supported by allegations of poor performance relating to options, stock and over-the-counter equities transactions placed in the customer’s account during the time that Woods was associated with A&F Financial Services, Inc. and Clark Dodge & Co.
Woods’ employment with PHX Financial, Inc. was terminated as of January 3, 2018. Since April 23, 2001, Woods has been associated with fourteen different broker dealers, twleve of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach
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