Bryan Gabriel Mazliach – Financial Advisor/Broker Bryan Mazliach Named in FINRA Complaint | Goodman & Nekvasil, P.A. May Recover Investor Losses
Bryan Mazliach was a previously licensed financial advisor with Westpark Capital Inc. and Laidlaw and Company UK Ltd. According to Bryan Mazliach’s BrokerCheck report, Bryan Mazliach was named in a FINRA complaint.
According to FINRA Allegations:
Mazliach was named a respondent in a FINRA complaint alleging that he, while associated with a FINRA member firm, excessively and unsuitably traded five customers’ accounts by recommending and executing in their accounts a high-cost, in-and-out trading strategy. The complaint alleges that the recommended investment strategy lost customers over $170,000, while generating commissions and fees for the firm and Mazliach of more than $187,000. Mazliach effected 450 trades, hundreds of which were unauthorized, in these five customers’ accounts. Mazliach’s trading resulted in annualized cost-to-equity ratios ranging from 37% to 218% and annualized turnover rates ranging from 12 to 50. These trades, when taken together, were excessive and quantitatively unsuitable for the customers based upon their investment profiles. Mazliach also failed to have a reasonable basis to believe that his recommended investment strategy was suitable for anyone. He failed to perform reasonable diligence to understand the potential risks associated with the investment strategy that he was recommending, namely how the costs associated with an in-and-out trading strategy would impact the ability of the accounts to turn a profit. Mazliach did not calculate or track the costs associated with his trading strategy, much less consider the cumulative impact the commissions and fees associated with his strategy would have on his customers’ ability to earn a profit. The complaint also alleges that Mazliach compounded his misconduct by engaging in unauthorized trading in his customers’ accounts. In total, he placed 420 unauthorized trades in ten accounts, seven of which were also excessively traded. The complaint further alleges that during FINRA’s investigation into Mazliach’s trading activity, he failed to respond to FINRA’s requests for documents and information.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Bryan Mazliach and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Bryan Mazliach’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Bryan Mazliach and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
Some of the information in this blog post was obtained on 9/21/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.