Robert C. Bragg Investigation
According to publicly available records Robert Charles Bragg, a broker who works for Newbridge Securities, discloses a pending customer dispute and a prior regulatory matter.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 6/2022 a customer of Newbridge Securities and VSR Financial filed a FINRA arbitration seeking unspecified damages and alleges that Bragg was negligent and mede unsuitable recommendation in connection with investments in alternative investments (REITs, limited partnerships).
In 2015 one of Bragg’s customers was paid $60,000 to resovle allegations related to recommendations to invest in equipment leasing and real estate investments.
In Order No. 2016-CDS-012, the Colorado Division of Securities restricted Bragg’s licenses with Newbridge Securities and Newbridge Financial Services Group. For a period of three years Mr. Bragg was subject to special heightened supervision2016-2019. 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.
Bragg has been registered with Newbridge Securities since 6/2016. Hewas registered with VSR Financial Services 2/2004-6/2016.
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, 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.
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