Niaz Elmazi, of New York, New York, a stockbroker formerly registered with Global Arena Capital Corp, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he did not provide FINRA personnel with a response regarding his compliance with a customer initiated investment related arbitration settlement or award. Letter No. 16-00351 (Nov. 29, 2016).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Elmazi has been named in four customer initiated investment related disputes containing allegations of his misconduct while employed with HFP Capital Markets LLC and Global Arena Capital Corp. Specifically, on December 1, 2014, a customer filed an investment related written complaint involving Elmazi’s conduct, in which the customer requested $29,000.00 in damages based upon allegations that Elmazi made unsuitable stock recommendations to the customer.
Subsequently, on May 21, 2015, a customer filed an investment related written complaint involving Elmazi’s conduct, in which the customer requested $15,600.00 in damages based upon allegations that from April of 2015 to May of 2015, Elmazi effected unauthorized equity trades in the customer’s account. Further, between July 19, 2016, and February 24, 2017, two customers were awarded $245,737.00 in damages according to investment related arbitration claims involving Elmazi’s misconduct, based upon allegations that Elmazi effected transactions in the customers’ accounts which were not suitable for them, and breached his fiduciary duties owed to the customers.
Since June 15, 2001, Elmazi has been associated with nine different broker dealers, eight of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct, including Global Arena Capital Corp and HFP Capital Markets LLC. #cockroach
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