Fort Lauderdale, FL
Bryan Mazliach, formerly with Laidlaw & Company and Westpark Capital, Barred by FINRA
Have you lost money with financial advisor Bryan Mazliach from Fort Lauderdale, Florida? We are continuing to look into allegations made by FINRA (the Financial Industry Regulatory Authority) against Bryan Mazliach. In 2020, FINRA filed a complaint against Mazliach regarding allegations while he was affiliated with Laidlaw & Company. In January 2021, FINRA barred Mazliach from the securities industry.
Mazliach was being investigated regarding allegations that he engaged in unsuitable and excessive trading (churning) in customers’ accounts. FINRA alleged that five of Mazliach’s customers had accounts with a cost-to-equity ratios of 37% to 218% while at Laidlaw & Company. To put this in perspective, if an account had a cost equity ratio of 30%, that means the trading in the account would have to make a 30% profit annually just to break even from the costs of trading.
Bryan Mazliach was a registered representative and financial advisor with Laidlaw & Company from January 2015 to September 2017. He also was affiliated with Westpark Capital from August 2017 to December 2018. He worked out of a branch office in Fort Lauderdale, Florida. Bryan Mazliach has also been the subject of at least three customer complaints.
Broker-dealers like Laidlaw & Company have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations. When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Florida. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Westpark Capital.