Bryan Moskowitz Suspended by FINRA for Alleged Excessive Trading

Bryan Moskowitz (CRD #: 6063246), a broker registered with NYLIFE Securities, allegedly churned a client’s account, according to his BrokerCheck record, accessed on December 6, 2024. If you have questions about his alleged conduct as a broker, read on.

FINRA Suspension

On November 11, 2024, Bryan Moskowitz consented to the entry of findings that he allegedly excessively traded in a client’s account between November 2017 and March 2019.

According to a Letter of Acceptance, Waiver & Consent (AWC), Bryan Moskowitz allegedly recommended high frequency in-and-out trading of securities to the client, even when the price of these securities did not materially change. During the relevant period, he allegedly recommended 50 transactions which resulted in an annualized turnover rate of 18 and an annualized cost-to-equity ratio of approximately 93%.

Turnover rate and cost-to-equity ratio are some of the factors used to determine when trading is excessive. Generally, turnover rates over 6 and cost-to-equity ratios above 20% are considered red flags for excessive trading.

The AWC further alleged that Bryan Moskowitz’s recommendations generated total trading costs of $16,902 (including $13,145 in commissions) and $81,614 in total realized losses.

The AWC concluded that this alleged misconduct constituted violations of FINRA Rules 2111 and 2010.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. Brokers must use the information in an investor’s profile, such as their investing experience, tax status, risk tolerance, and age when making recommendations.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

Bryan Moskowitz consented to the following sanctions:

• 3-month suspension from associating with FINRA members
• $5,000 fine
• Restitution of $13,145, plus interest

His suspension began on December 2, 2024, and will end on March 1, 2025. You can access the full AWC here.

Background Information

Bryan Moskowitz has passed the following exams:

• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Securities Agent State Law Examination – Series 63

Bryan Moskowitz is a registered broker in California, New Jersey, and New York.

He has also worked for the following firms:

• Spartan Capital Securities (CRD#:146251)
• Worden Capital Management (CRD#:148366)
• Legend Securities (CRD#:44952)
• Joseph Gunnar & Company (CRD#:24795)
• Brookstone Securities (CRD#:13366)

Kurta Law Can Help

If you worked with Bryan Moskowitz and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.