Bryan Mazliach Possibly Made Excessive Trades

Broker Bryan Mazliach Identified In Client Disputes, FINRA Complaint

Soreide Law Group is evaluating possible investor claims of sales practice violations by Bryan G. Mazliach (CRD#: 5518438, Fort Lauderdale, Florida). Apparently, the securities broker, who worked for Rockwell Global Capital (2010 to 2015), Laidlaw (2015 to 2017) and Westpark Capital (2017 to 2018), is involved in multiple investor disputes. Not only that, but FINRA Department of Enforcement has gone after Mazliach in 2020 for alleged violations of FINRA rules on excessive trading and suitability. Here’s more.

FINRA Enforcement Action Regarding Bryan Mazliach’s Excessive Trading

FINRA alleges in its Complaint that Bryan Mazliach made excessive and unsuitable trades. The Complaint indicates that Mazliach’s 2015-2017 recommendations caused clients to lose more than $170,000. FINRA indicated that the broker caused clients’ accounts to experience really high turnover rates and cost-equity ratios. Allegedly, Mazliach made $187,000 for himself or Laidlaw by taking in commissions and fees.
The Complaint also indicated that Mazliach did not have a sufficient reason to advise clients on his investment strategy. Supposedly, he did not perform due diligence on his frequent trading strategy. FINRA also alleged that Mazliach made 420 unauthorized trades in client accounts. Seven of those accounts contained excessive trades, the regulator says. For this reason, Mazliach allegedly violated FINRA rules on excessive trading.
Moreover, FINRA says that Bryan Mazliach did not respond to FINRA’s directions during an investigation. This included a request for documents and information. Because of Mazliach’s alleged failure to respond, FINRA stated that he violated FINRA Rules. This matter is ongoing and might result in fines, suspensions or other sanctions against Mazliach.

Client Disputes About Bryan Mazliach

From what FINRA BrokerCheck reports, three clients brought disputes from 2016 to 2020. In a dispute from 2020, a Laidlaw client alleged that Bryan Mazliach made unauthorized trades. It seems that Mazliach might not have received written permission from the client to make certain securities trades. Not only that, but the client indicated that Mazliach’s excessive trading caused losses. For this reason, Laidlaw paid $25,000 to the client to resolve the dispute.

Mazliach Supposedly Churned Laidlaw Client’s Account

Notably, a Laidlaw client brought Bryan Mazliach up in a 2018 lawsuit. It appears from the complaint that from 2015 to 2017, Mazliach might have churned the client’s account. Generally, churning involves unnecessary and excessive trades that benefit the securities broker. Not only that, but the client apparently never gave Mazliach permission to make trades from 2015 to 2017. It appears that OTC equities and stocks did not align with the client’s investor profile. Because of this, Laidlaw paid the client $7,500.

Laidlaw Client Indicates Bryan Mazliach Made Excessive Trades

Evidently, a Laidlaw client took aim at Bryan Mazliach through a 2016 dispute. The client brought claims based on alleged excessive trading by Mazliach. It appears that Mazliach could have made trades at an unreasonably high frequency from 2015 to 2016. Because of this, Mazliach reportedly paid the client $32,143.87 to settle.

Losses From Broker Mazliach?

Mazliach denies allegations of his sales practice violations. Have you experienced losses by investing with securities broker Mazliach? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities firms and financial advisors.