The Financial Industry Regulatory Authority (“FINRA”), May 15,2013, censured and fined VSR Financial Services, $550,000 over allegations that it failed to supervise its sales of alternative investments to its customers, specifically as it related to concentration in hedge funds, notes, REITs and private placements investments. Donald Beary, VSR’s President, received a 45-day suspension and $10,000 […]

FINRA continues to crack down on sales of alternative investments. Earlier this week, FINRA, the Financial Industry Regulatory Authority Inc. fined VSR Financial Services Inc., a midsize broker-dealer known for selling alternative investments, $550,000, and imposed a $10,000 fine and 45-day suspension of VSR's chairman, Don Beary. FINRA alleged that from 2005 to 2010, VSR […]