Baris Cabalar

The law firm of ChapmanAlbin is investigating Baris Cabalar, a registered representative at PHX Financial, Inc., following recent charges by the SEC alleging violations of Regulation Best Interest and antifraud provisions. According to the SEC’s complaint, Cabalar engaged in excessive trading from January 2019 to October 2021, recommending a high-volume, short-term investment strategy to retail customers without a reasonable basis for its profitability.

The SEC alleges that Cabalar’s actions led to significant losses for customers, totaling over $1 million, while he and PHX Financial, Inc. received more than $400,000 in commissions and fees from these trading activities. The complaint further claims that Cabalar failed to consider the impact of transaction costs on the viability of the recommended strategy, leading to substantial financial harm for the affected customers.

ChapmanAlbin is actively investigating potential claims for those affected by Cabalar’s alleged misconduct. Investors who suffered losses related to excessive trading in their PHX brokerage accounts are encouraged to seek guidance on potential recovery options.