Michael Daniel Shaw Consents to Suspension by FINRA

Louisiana Financial Advisor Michael Daniel Shaw recently submitted a Letter of Acceptance, Waiver and Consent (“AWC”) to the Financial Industry Regulatory Authority (“FINRA”) agreeing to suspension in connection with his questionable recommendations and sales practices with his customers.

According to the AWC, Mr. Shaw “made misrepresentations in connection with the private placements to three customers and unsuitable recommendations of private placements to four customers. In addition, Shaw falsified customer account documents overstating net worth and changing the customer risk profiles in the accounts of the same three customers.”

As a result of this FINRA consent order, Mr. Shaw is barred from association with any FINRA member in any capacity. Mr. Shaw had previously been associated with VSR Financial Services, Inc. in Baton Rouge, Louisiana, prior to the suspension.

To view a copy of Mr. Shaw’s Letter of Acceptance, Waiver and Consent, click HERE. To view a copy of FINRA's announcement of Mr. Shaw's suspension, click HERE and go to Page 46.

Customers of Michael Daniel Shaw may contact Fishman Haygood attorney Joe Peiffer for a free, no obligation evaluation of their potential claims at 504-586-5259.

Fishman Haygood is hosting an upcoming town hall meeting to discuss pending lawsuits against Mr. Shaw. The firm is still looking for investors that may have been harmed by VSR Financial Services, Inc., Mr. Shaw, or other firms and brokers. The town hall meeting will be held Monday, October 29, at 12 noon and at 6:30 p.m. in Baton Rouge. For more information about the town hall meeting, contact Fishman Haygood at 504-586-5259.

 

One of Louisiana's most experienced law firms practicing in securities and financial fraud is assisting customers who invested with Louisiana financial advisor Michael Daniel Shaw.

Fishman Haygood Phelps Walmsley Willis & Swanson, of New Orleans and Baton Rouge, is investigating potential claims against Mr. Shaw.  Fishman Haygood has represented hundreds of investors in claims for financial losses against brokers, brokerage firms, and investment advisors.

Fishman Haygood partner Joe Peiffer urges customers who have complaints against Mr. Shaw regarding his investment advice to contact an attorney to evaluate their potential claims.

“Dan Shaw has a history of placing his customers in costly, unsuitable, and illiquid investments. The fact that Mr. Shaw has been barred from the industry is telling,” Peiffer said.

Customers of Michael Daniel Shaw may contact Fishman Haygood attorney Joe Peiffer for a free, no obligation evaluation of their potential claims at 504-586-5259.

Fishman Haygood is hosting an upcoming town hall meeting to discuss pending lawsuits against Mr. Shaw. The firm is still looking for investors that may have been harmed by VSR Financial Services, Inc., Mr. Shaw, or other firms and brokers. The town hall meeting will be held Monday, October 29, at 12 noon and at 6:30 p.m. in Baton Rouge. For more information about the town hall meeting, contact Fishman Haygood at 504-586-5259.

 

Louisiana financial advisor Michael Daniel Shaw has been in trouble in the past for his sales practices and treatment of customers, according to a review of a Financial Industry Regulatory Industry (FINRA) report detailing his history in the industry.

The FINRA report shows that Mr. Shaw has consented to discipline by FINRA and been sued by several customers for making material misrepresentations or omissions in connection with the sales of private placement products.

Most recently, Mr. Shaw consented to suspension by FINRA in October 2011 stemming from customer complaints, as detailed in the FINRA report. In addition, Mr. Shaw's FINRA report shows that he has six customer disputes pending in FINRA currently and another 16 customer disputes that have been finalized.

Another financial advisor associated with VSR Financial Services and the EA Financial Group also has complaints from customers reflected in his FINRA report. Michael Daniel Shaw currently has two customer disputes pending in FINRA and two additional disputes that have been finalized.

FINRA describes itself as "the largest independent regulator for all securities firms doing business in the United States. We oversee nearly 4,490 brokerage firms, 163,640 branch offices and 635,405 registered securities representatives. Our chief role is to protect investors by maintaining the fairness of the U.S. capital markets," according to its website at www.finra.org.

To view a full copy of a FINRA report detailing Michael Daniels Shaw's regulatory history, click HERE. To view a full copy of a FINRA report detailing Gregory Martin Ellis' regulatory history, click HERE.

Customers of Michael Daniel Shaw and Gregory Martin Ellis may contact Fishman Haygood attorney Joe Peiffer for a free, no obligation evaluation of their potential claims at at 504-586-5259.

Fishman Haygood is hosting an upcoming town hall meeting to discuss pending lawsuits against Mr. Shaw. The firm is still looking for investors that may have been harmed by VSR Financial Services, Inc., Mr. Shaw, or other firms and brokers. The town hall meeting will be held Monday, October 29, at 12 noon and at 6:30 p.m. in Baton Rouge. For more information about the town hall meeting, contact Fishman Haygood at 504-586-5259.

 

By Bruce Kelly
Investment News

The Financial Industry Regulatory Authority Inc. continues to slam broker-dealers for their sales of allegedly fraudulent private placements. The regulator issuer a statement this morning disclosing sanctions against eight firms and ten individuals totaling more than $3.2 million in restitution to investors.

InvestmentNews yesterday reported the largest of the sanctions, the $2 million in restitution by Next Financial Group Inc. The seven other firms are all independent broker-dealers and include Securities America Inc., which was the biggest seller of one series of private placements, notes issued by Medical Capital Holdings Inc. The Securities and Exchanged Commission Charged MedCap with fraud in 2009.

To read the full article, visit the InvestmentNews website HERE.

Customers of Michael Daniel Shaw may contact Fishman Haygood attorney Joe Peiffer for a free, no obligation evaluation of their potential claims at at 504-586-5259.

Fishman Haygood is hosting an upcoming town hall meeting to discuss pending lawsuits against Mr. Shaw. The firm is still looking for investors that may have been harmed by VSR Financial Services, Inc., Mr. Shaw, or other firms and brokers. The town hall meeting will be held Monday, October 29, at 12 noon and at 6:30 p.m. in Baton Rouge. For more information about the town hall meeting, contact Fishman Haygood at 504-586-5259.