Serge Parakhnevich

Serge Parakhnevich (CRD #: 5493064), a broker registered with PHX Financial, Inc., was suspended by the Financial Industry Regulatory Authority (FINRA), according to his BrokerCheck record, accessed on August 25, 2020.

On August 6, 2020, Serge Parakhnevich entered into an Acceptance, Waiver and Consent Agreement with FINRA in which he consented to the findings that he had executed trades in a customer account without the customer’s prior written authorization, or his firm’s approval of the account as discretionary. The findings stated that the customer was generally aware of the fact that Mr. Parakhnevich was exercising discretion in his account. In addition, Mr. Parakhnevich completed firm compliance questionnaires wherein he falsely answered questions related to whether he handled customer accounts on a discretionary basis.

Serge Parakhenvich consented to a 45-day suspension, beginning August 17, 2020 and ending September 30, 2020. He also consented to a $7,500 fine. A copy of the AWC can be found here.

This is not the only disclosure in Serge Parakhnevich’s regulatory record.

On April 22, 2020, a client alleged that Mr. Parakhnevich made unsuitable investment recommendations. The client further alleged that Mr. Parakhnevich breached his fiduciary duty to his client. The client is seeking $249,281 in damages; the dispute is pending.

On August 17, 2015, a client alleged Mr. Parakhnevich executed unauthorized trades and churned the client’s account. The client sought $100,000 in damages; the dispute was denied by the firm.

On May 11, 2011, Mr. Parakhnevich had a civil lien of $17,493.53.

Serge Parakhnevich has passed the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, and the Series 7 General Securities Representative Examination. He is registered as a broker in Alabama, Alaska, Arizona, California, Colorado, Connecticut, Delaware, D.C., Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

In his 12-year career, Serge Parakhnevich has worked at the following firms:

  • Aegis Capital Corp. (CRD #: 15007)
  • John Thomas Financial (CRD #: 40982)
  • Clark Dodge & Co. Inc. (CRD #: 23288)
  • Alexander Capital L.P. (CRD #: 40077)
  • Brookstone Securities Inc (CRD #: 13366)
  • Clark Dodge & Co. Inc. (CRD #: 23288)

If Serge Parakhnevich was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys at Fitapelli Kurta. Call (877) 238-4175 or email info@fkesq.com for your free case consultation with a securities attorney.