Dennis Paul Van Patter of Plano Texas a stockbroker formerly registered with VSR Financial Services Inc. has been referenced in a customer initiated investment related written complaint on October 27, 2016 in which the customer alleged that real estate security transactions were placed in the customer’s account that were not suitable for the customer.
FINRA Public Disclosure reveals that Patter has been identified in two additional customer initiated investment related disputes that pertain to allegations of Patter’s wrongful conduct since having been fined $10,000.00 and suspended by FINRA in all capacities for making unsuitable alternative investment recommendations to customers in violation of FINRA Rule 2010 and National Association of Securities Dealers (NASD) Rules 2110 and 2310. Letter of Acceptance Waiver and Consent No. 2013036647401 (Nov. 20, 2015).
Particularly, a customer filed an investment related arbitration claim regarding Patter’s conduct where the customer sought more than $5,000.00 in damages based upon accusations of the violation of Texas securities laws, breach of fiduciary duties and suitability relating to the customer’s investments in real estate securities, oil & gas, as well as partnership interests. FINRA Arbitration No. 16-00091 (Jan. 19, 2016).
Additionally, on October 14, 2016, a customer filed an investment related complaint pertaining to Patter’s activities in which the customer requested $1,074,858.00 in damages founded on allegations of unsuitable real estate security, promissory note and equipment leasing transactions.
Patter’s employment with VSR Financial Services, Inc. was terminated on July 12, 2016.
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