Did you lose money investing with Bryan Mazliach (CRD# 5518438)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Bryan Mazliach. If you suffered losses investing with Bryan Mazliach, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of March 13, 2023, Bryan Mazliach’s FINRA BrokerCheck Report contains the following:
BARRED: FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
Disclosure Events
3 Customer Disputes
1 Regulatory Event
1 Judgment(s)/Lien
February 17, 2021 – An Office of Hearing Officers (OHO) decision became final in which Mazliach was barred from association with any FINRA member in all capacities and ordered to pay $158,289, plus interest, in restitution to customers. The sanctions were based on findings that Mazliach recommended and effected an unsuitable investment strategy to customers involving in-and-out, short-term and excessive trading. The findings stated that Mazliach exercised de facto control over trading in the accounts of customers by deciding what securities to buy and sell, the quantities, the price and when trades would occur. Although some of these trades were coordinated with the customers, most of them were not, and were unauthorized. All but one of the customers were 62 years or older when they opened their accounts. Mazliach generated $187,526 in gross commissions while the customers realized losses totaling $171,595. The findings stated that Mazliach recommended that customers engage in an active in-and-out trading strategy over periods of time ranging from eight to 29 months. Mazliach generally did not discuss the commissions and fees that he charged and failed to keep track of the costs of these trades or consider how the costs affected the customers’ accounts. Mazliach lacked a reasonable basis to believe that this trading strategy was suitable for any investors. The findings also included that Mazliach executed unauthorized trades by effecting trades in customer accounts without the customers’ prior knowledge and without first obtaining their authorization. The unauthorized trading constituted 50 percent of the excessive trading in the accounts of customers with overall loses from this trading ranging from $3,900 to $55,262. FINRA found that Mazliach failed to provide documents and information requested by FINRA during the course of its investigation into his trading in customer accounts. (FINRA Case #2016051583101)
Current and Previous Registrations
08/30/2017 – 12/12/2018 WESTPARK CAPITAL, INC. (CRD#:39914) Fort Lauderdale, FL
01/30/2015 – 09/20/2017 LAIDLAW & COMPANY (UK) LTD. (CRD#:119037) FT. LAUDERDALE, FL
12/07/2010 – 01/16/2015 ROCKWELL GLOBAL CAPITAL LLC (CRD#:142485) MELVILLE, NY
06/21/2010 – 12/06/2010 CHARLES VISTA LLC (CRD#:132650) MELVILLE, NY
FINRA expelled the firm on 01/02/2014
05/07/2008 – 07/20/2010 OBSIDIAN FINANCIAL GROUP, LLC (CRD#:104255) WOODBURY, NY
FINRA expelled the firm on 10/16/2013
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Bryan Mazliach and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
