Parks Heard Brown Jr., of Marietta, Georgia, a stockbroker formerly associated with VSR Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on October 14, 2016, based on allegations that Brown effected unsuitable investment transactions in the customer’s account.
FINRA Public Disclosure reveals that Brown has been subject to three prior customer arbitrations in the past. Particularly, on May 15, 2001, a customer was awarded $229,839.07 in damages in a customer initiated investment related arbitration claim based upon allegations that Brown breached his fiduciary duty to the customer, churned and overconcentrated the customer’s account, and effected unsuitable and unauthorized transactions.
On March 31, 2004, Brown settled a customer initiated investment related arbitration claim for $4,000.00 based upon allegations that Brown made misrepresentations to the customer concerning investments. On March 10, 2014, Brown resolved a customer initiated investment related arbitration claim for $71,500.00 based upon allegations including negligence, breach of fiduciary duty, unauthorized trading, churning, breach of FINRA Rules 2111 and 2090, and unsuitability.
Guiliano Law Group
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