Barry Calabar: SEC Investigating PHX Financial Advisor

Fort Lauderdale, Florida advisor Barry Calabar (CRD# 4749342) is under investigation by the US Securities and Exchange Commission in connection with alleged securities law violations. Financial Industry Regulatory Authority records show that he is currently registered as a broker with PHX Financial, and that he has received several investor complaints.

Mr. Calabar’s BrokerCheck report discloses the SEC investigation into his conduct. Filed in June 2024, it states that the SEC made a preliminary determination to recommend an enforcement action against him in connection with violations of securities industry laws and rules. The investigation remains pending. In a statement included with the disclosure, he defended himself against allegations of misconduct. “[Mr. Calabar] denies that he violated any federal securities laws, rules or regulations,” he wrote. “In the event this matter proceeds to an enforcement action the representative intends to vigorously defend any and all claims.”

A second disclosure on his BrokerCheck report concerns an investor complaint against him. Filed in 2019, it alleged that as a representative of PHX Financial, he made excessive trades and generated excessive commissions. The complaint reached a settlement of $185,000.

A second investor complaint, filed in 2016, alleged that as a representative of Legend Securities, he recommended unsuitable investments, breached his fiduciary duty, committed fraud, violated the Arkansas Securities Act, and engaged in churning. In 2022 the complaint reached a settlement of $5,000.

A third investor complaint, filed in 2015, alleged that as a representative of John Thomas Financial, he churned investments, breached contract, negligently misrepresented material information, breached his fiduciary duty, and made unsuitable investment recommendations. The complaint reached a settlement of $14,500.

According to the Financial Industry Regulatory Authority, Barry Calabar holds 16 years of securities industry experience. Based in Fort Lauderdale, Florida, he has been registered as a broker with PHX Financial since 2015. His past registrations include Legend Securities, Aegis Capital Corporation, John Thomas Financial, and Newbridge Securities Corporation. 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 holds 23 state licenses. (Information current as of August 10, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.