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 fine. (FINRA #2010022963602).
In October, 2011, Michael Daniel Shaw, a financial advisor at VSR’s office in Baton Rouge, Louisiana, was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Shaw consented to the entry of findings that he recommended and effected the sale of high-risk private placements to clients without having a reasonable basis to believe the transactions were suitable given the customers' financial circumstances. Allegedly, Michael Shaw made misrepresentations or omissions in connection with the purchases or sales of the private placements (FINRA #2010022963601).
If your broker recommended risky alternative investments which may have created losses to your portfolio, call Soreide Law Group for a free consultation with an attorney on how to potentially recover those losses at: 888-760-6552.
LINCOLN LUCAS MASON (LINCOLN L MASON) formerly of Edward Jones of Arnolds Park, Iowa, from 03/29/2019 - 12/23/2021, was suspended for 90 days and fined $5,000.00 by FINRA. Mason was previously registered both as an investment advisor and as a broker. According to the FINRA report, without admitting or denying FINRA’s findings, LINCOLN L MASON […]
Investors have reportedly disputed the sales practices of securities broker John Howard Saunders [CRD: 870131, Vero Beach, Florida], based on disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Saunders has been registered with UBS Financial Services Inc. since May 11, 2007, operating from both Vero Beach, Florida, and Roanoke, Virginia. Read on to discover […]
Investors potentially experienced sales practice violations due to securities broker Edward Muster [CRD: 1012341, Boca Raton, Florida], based on public information on FINRA BrokerCheck. Evidently, Edward Muster worked for Herbert J. Sims Co. Inc. from May 14, 1998, to July 7, 2020. Keep reading to find out more about Edward Muster’s disclosures. Herbert J. Sims […]
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