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.
Pending customer claims on BrokerCheck name Michael Graham (CRD 3263494) and list LPL Financial as the firm. Each claim is pending and unproven, and no arbitrator has ruled on any of them. The customers allege that Graham misrepresented guaranteed principal and returns on a secured loan related to a real estate deal.
An SEC decision involving Titan Securities (CRD 131392) of Plano, Texas became final on August 7, 2026, according to FINRA's October 2026 Disciplinary and Other FINRA Actions report. The decision fined the firm $50,000. The record lists the firm as JTA Securities Management, Inc. dba Titan Securities.
Every settled customer dispute on Peter Maller's BrokerCheck report names Lincoln Financial as the firm. Maller holds CRD number 2322403. The newest dispute, filed on March 5, 2024, settled on August 15, 2024 for $12,500 against alleged damages of $50,000. The claimants alleged that the representative represented an oil and gas investment as safe.
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