Colorado Springs, Colorado
UPDATE-December 2016– BRAGG SANCTIONED BY COLORADO REGULATORS- In Order No. 2016-CDS-012, the Colorado Division of Securities restricted his licenses with Newbridge Securities and Newbridge Financial Services Group. For a period of three years Mr. Bragg is subject to special heightened supervision. According to the Colorado regulator Mr. Bragg was the subject of four complaints by Colorado clients while he was associated with VSR Financial Services. The products involved were alternative investments, including direct investments, equipment leasing, promissory notes and real estate securities.
UPDATE-July 2016 – FINRA records disclose that Robert C. Bragg, of Colorado Springs formerly a broker with VSR Financial Services from 3/2004-6/2016, is currently registered with Newbridge Securities Corp. as of 6/2016.
February 2016-Rex Securities Law is investigating VSR Financial Services broker Robert C. Bragg of Falcon Financial Services in connection with the sale of real estate securities, promissory notes, equipment leasing investments, limited partnerships and direct investments .
According to FINRA records Bragg was named in a FINRA arbitration in 2014 (#14-02408 ) by a customer who alleged violations of the Colorado Securities Act, breach of fiduciary duty, negligent misrepresentation, professional negligence and negligent supervision. That case was settled in 1/2016 for $245,000.
Three other customer complaints related to unsuitable alternative investments resulted in monetary settlements.
Bragg was first registered with VSR Financial Services in 2/2004.
VSR Financial Services was fined $550,000 by the Financial Industry Regulatory Authority (FINRA) in May 2013 in connection with the sale of alternative investments. In their findings, FINRA criticised VSR Financial for recommending high concentration levels of alternative investments in customer accounts and for its lack of supervision over the use of consolidated reports prepared by brokers and provided to customers.
Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures. It may also include art, wine, antiques, coins or stamps. These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.
If you have losses in an account handled by Robert Bragg and/or VSR Financial Services , contact us to discuss how you may be able to recover damages for those losses.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Florida-561 391 1900