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.
CLIFFORD RONALD REID (CLIFFORD R REID) was previously registered with REID RUDIGER LLC of New York, NY from 10/06/1999 - 04/30/2026. According to FINRA’s BrokerCheck, available to the public on FINRA’s website, CLIFFORD R REID has 34 years of experience in the securities industry and was listed as a broker with 4 firms. Reid is […]
Investors might have sustained losses due to securities broker Elizabeth Florence Ortiz (also known as Elizabeth Barber, Betsy Barber, and Betsy Ortiz) [CRD: 6818113, Austin, Texas], based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Ortiz has worked for Charles Schwab Co. Inc. from December 11, 2017, to the present. Read on to […]
Investors potentially incurred losses because of securities broker James Anthony Medsker (also known as Jim Medsker) [CRD: 1294250, Dublin, Ohio], given the disclosures located on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Medsker worked for Wells Fargo Clearing Services LLC from October 26, 2018, to January 25, 2024. Investors are encouraged to continue reading to learn […]
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