Nir Regev: Complaint Against DFPG Advisor Settles for $287K

A recent investor complaint against St. Louis financial advisor Nir Regev (CRD# 1847410) reached a settlement of more than $250,000. Records maintained by the Financial Industry Regulatory Authority indicate that he is a broker and an investment advisor with DFPG Investments, having previously been registered with VSR Financial Services.

Mr. Regev’s BrokerCheck report discloses two investor complaints. The most recent, filed in April 2023, alleges that as a representative of DFPG Investments, he recommended unsuitable and illiquid investments in real estate securities. In July 2023 the complaint reached a settlement of $278,680.61.

An earlier investor complaint, filed in 2019, alleged that he recommended an unsuitable variable annuity while a representative of VSR Financial Services. The complaint resulted in an award to the customer of $4,999.

In a statement included with the complaint’s disclosure, Mr. Regev defended himself against the allegations. “The investment advice which I provided to the client was appropriate then and remains appropriate today,” he asserted. “I further state that I did nothing inappropriate and I completely dismiss any assertions of wrongdoing or neglect. I acted in the most honest and prudent fashion, and I continuously put the needs of the client at the very forefront of all my advice and recommendations.” Later in the statement, he wrote that he “paid a small amount to the client” in order to resolve the claim, and noted “that in the final decision of the arbitrator there is absolutely no mention of any wrongdoing on my part.”

According to the Financial Industry Regulatory Authority, Nir Regev holds 34 years of securities industry experience. Based in St. Louis, Missouri, he has been a broker and an investment advisor with DFPG Investments since 2015 and 2022, respectively. His past registrations include VSR Financial Services (St. Louis, Missouri; 2001-2016), IFG Network Securities (Atlanta, Georgia; 2000-2001), Washington Square Securities (Windsor, Connecticut; 1997-2000), Walnut Street Securities (El Segundo, California; 1992-1997), Andover Securities (Kansas City, Missouri; 1990-1992), Ameritas Investment Corporation (Lincoln, Nebraska; 1989-1990), and Merrill Lynch (New York, New York; 1988-1989). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Maryland, Missouri, Montana, North Carolina, Pennsylvania, Texas, Washington, and Wisconsin. (Information current as of August 20, 2023.)

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