Brandon Leon: $336K Private Placement Complaint Against PHX Advisor

New York City financial advisor Brandon Leon (CRD# 5200595) is involved in an investor complaint alleging unsuitable investment recommendations that resulted in six-figure damages. Records maintained by the Financial Industry Regulatory Authority show that he is currently registered as a broker with PHX Financial.

Mr. Leon’s BrokerCheck report discloses one recent investor complaint. Filed in July 2022, it alleges that as a representative of National Securities Corporation, he recommended unsuitable private placement investments. The pending complaint alleges damages of $336,700.

In a statement included with the pending complaint’s disclosure, Mr. Leon defended himself against the allegations. “Mr. Leon was not named as a respondent in this matter and denies any wrongdoing,” the statement asserts. “It is his belief that the claimant filed in response to National Securities being fined by FINRA in June 2022.”

That comment likely refers to the June 2022 enforcement action against National Securities Corporation in connection with findings that the “attempted to artificially influence the market” for private placement investments in GPB Capital. According to FINRA, the firm undertook various measures with the goal of “artificially stimulating demand and supporting the price of the offered securities, which tended to be thinly traded, in the immediate aftermarket.” FINRA ordered the firm to pay a fine of $9 million, as well as restitution of more than $625,000 to customers who purchased GPB Capital private placements following the firm’s failure to disclose material information about the securities.

According to the Financial Industry Regulatory Authority, Brandon Leon holds 16 years of securities industry experience. Based in New York, New York, he has been a broker with OHX Financial since June 2022. His past registrations include National Securities Corporation (New York City; 2010-2022) and Olympia Asset Management (New York City; 2006-2010). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He currently holds 28 state licenses. (Information current as of December 21, 2022.)

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