Niaz Elmazi of New York New York is a stockbroker formerly registered with Global Arena Capital Corp who has been sanctioned on May 5, 2017 by Financial Industry Regulatory Authority (FINRA) based upon allegations that Elmazi failed to confirm with FINRA whether he complied with FINRA Arbitration No. 16-00350 (Feb. 24, 2017) in which he was found liable for executing unsuitable transactions in a customer’s account and ordered to pay the customer $195,737.00 in damages.
This is not the first time that Elmazi has been subject of a FINRA disciplinary action concerning his failure to communicate with FINRA personnel. Particularly, he was sanctioned by FINRA on November 29, 2016 based upon his failure to confirm whether he complied with FINRA Arbitration No. 16-00351 (July 19, 2016) where Elmazi was found liable for effecting unsuitable transactions and ordered to pay the customer $50,000.00 in damages. Moreover, Elmazi had been barred from associating with any FINRA member in any capacity based upon accusations that he failed to provide FINRA with a response to FINRA’s request for Elmazi’s information. FINRA Case No. 2014043542401 (Aug. 10, 2015).
FINRA Public Disclosure confirms that Elmazi has been identified in two additional customer initiated investment related disputes containing allegations of Elmazi’s violative conduct during the time that he was associated with Global Arena Capital. Particularly, on November 18, 2014, a customer filed an investment related written complaint concerning Elmazi’s conduct where the customer requested $29,000.00 in damages based upon accusations that inappropriate stock recommendations were made to the customer. Then, on May 21, 2015, a customer filed an investment related written complaint regarding Elmazi’s activities, in which the customer sought $15,600.00 in damages founded on allegations that equity trades were effected in the customer’s account without the customer’s consent.
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