Mazliach was named in a FINRA complaint alleging that he committed misconduct.
The Sonn Law Group is investigating allegations that Bryan Mazliach made excessive and unsuitable trades. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.
Bryan Mazliach (CRD#: 5518438) was registered as a broker with Westpark Capital from 2017 until 2018. In September 2020, Mazliach was named as respondent in a FINRA complaint alleging that he conducted excessive and unsuitable trades in five customers’ accounts by employing 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 allegedly 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.
The complaint also alleged that Mazliach 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.
Mazliach has four disclosures on his BrokerCheck report.
January 2020 Customer Dispute
- Status: Settled
- Allegations: Client alleges unauthorized trading and excessive trading from 2015-2016.
- Damage Amount Requested: $49,687.00
- Settlement Amount: $25,000.00
May 2018 Customer Dispute
- Status: Settled
- Allegations: Client alleges churning, unauthorized and unsuitable trading from 2015-2017
- Damage Amount Requested: $66,680.00
- Settlement Amount: $7,500.00
February 2016 Customer Dispute
- Status: Settled
- Allegations: Client alleges excessive trading and commissions from April 2015 to January 2016.
- Damage Amount Requested: $200,000.00
- Settlement Amount: $32,143.87
- Broker Comment: The matter will be defended vigorously.
January 2015 Judgment / Lien
- Judgment / Lien Amount: $10,191.00
- Judgment / Lien Type: Tax
Contact Us Today
The Sonn Law Group is currently investigating allegations that Bryan Mazliach made excessive and unauthorized trades. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.