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Jim Regier– former VSR Broker– Discloses Customer Disputes

blf-badge-2016October 7, 2016

The FINRA records of James V. Regier, a stockbroker, who was formerly employed by VSR and is now employed by Summit, discloses 3 customer disputes, including:

A settlement of $104,000 to a customer who alleged that investments sold to her were not suitable

A pending customer complaint of an unsuitable investment in United Development Funding IV (UDF) from 2010 to 2015

A pending customer complaint of unsuitable investments in common and preferred stock recommended by Jim Regier

Regier is currently employed by Summit Brokerage Services, Inc., but was employed by VSR Financial Services.  VSR was fined $550,000 by the Financial Industry Regulatory Authority (FINRA) in May 2013 in connection with the sale of alternative investments.  FINRA criticized VSR Financial for recommending high concentration levels of alternative investments in customer accounts and for its lack of supervision over the use of separate reports prepared by brokers and provided to customers.   Alternative investments include non-publicly traded real estate investment trusts (REITS), Ridgewood Energy securities and other oil and gas investments, business development companies, and private placements   These investments are speculative, illiquid and hard to value.  They also pay large commissions to brokers and brokerage firms, which are not transparent to customers.

If you have losses in an account handled by Jim Regier or VSR Financial Services, contact me to discuss how you may be able to recover damages for your losses.