Steven Anthony Busto of Hauppauge, New York, a stockbroker registered with PHX Financial Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $83,045.00 in damages based upon allegations that Busto engaged in unauthorized trading in stocks when Busto was associated with PHX Financial Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-01826 (September 9, 2022).
FINRA Public Disclosure shows that Busto has been referenced in two other customer initiated investment related disputes concerning Busto’s conduct while associated with securities broker dealers. On November 18, 2004, an NASD securities arbitration claim involving Busto’s conduct resulted in the customer being awarded compensatory damages because Busto and GunnAllen Financial Inc. were held liable on the customer’s claims which included that Busto made misrepresentations of material fact in connection with the sale of over-the-counter equities. NASD Arbitration No. 04-04171.
Busto was also referenced in a FINRA securities arbitration claim that was settled for $35,000.00 in damages based upon allegations that Busto failed to supervise certain registered representatives in connection with the recommendation and sale of investments during the time that Busto was associated with First Midwest Securities Inc. FINRA Arbitration No. DR 11-01272 (April 2, 2012).
Busto has been associated with PHX Financial Inc. in Hauppauge, New York, as a stockbroker since December 2, 2015.
