HSBC Securities (USA) Inc. is a brokerage firm (CRD#: 1985) regulated by Financial Industry Regulatory Authority (“FINRA”) and investment adviser firm (SEC#: 801-64563,8-41562) regulated by Securities and Exchange Commission (“SEC”). Apparently, on FINRA BrokerCheck, the firm has been in sixty regulatory events and seven arbitrations pertaining to HSBC allegedly violating regulatory rules or harming investors. Additionally, HSBC Securities has terminated some of its own brokers for engaging in misconduct in the securities industry. Specifically, take a look at HSBC Securities’ terminations of brokers Robert Fortune, Matthew Riez, and Anita Bali.
Robert Fortune (CRD#: 5139793, Brooklyn, New York) was a securities representative of HSBC Securities from November 5, 2012 to March 7, 2017. Apparently, HSBC Securities discharged Robert Fortune on March 7, 2017. According to the firm, Robert Fortune allegedly changed information on a customer’s documents after the customer signed the documents. In addition, the firm indicated that Robert Fortune forged the customer’s signature on accounts documents. Critically, the customer apparently never knew about what Robert Fortune was doing, and had not consented. The firm claimed that Robert Fortune not only violated industry standards of conduct, but also violated industry regulations and HSBC Securities’ Code of Ethics Policy. Formerly, Robert Fortune worked at Legend Securities, Inc. (expelled on April 11, 2017) and Chase Investment Services Corp.
Also, HSBC Securities terminated broker Matthew Hale Riez (CRD#: 2282954, New York, New York). According to Matthew Riez’s FINRA BrokerCheck Report, he worked at HSBC Securities from July 24, 2007 to May 12, 2017. Mainly, the firm cited Matthew Riez’s failure to disclose an outside business. Evidently, the company required brokers to report outside business activities to the firm. Not only that, HSBC Securities would need to have provided clearance for the broker to engage in the outside business activity. Allegedly, Matthew Riez was involved in a tender offer for securities, but did not disclose his activities to the firm until after the firm investigated him. Because of this, HSBC Securities permitted Matthew Riez to resign during its investigation.
Anita Bali (CRD#: 3163667, Parsippany, New Jersey) is a broker who worked for HSBC Securities from April 11, 2014 until November 2, 2017, the day the firm discharged her. Principally, HSBC Securities stated that Anita Bali caused a third party to gain fraudulent access to one of the HSBC Securities customer’s accounts. Allegedly, Anita Bali’s action (or inaction) with regard to that customer’s account had serious consequences for the customer. Specifically, HSBC Securities claimed that a fraudulent party caused the liquidation of the customer’s securities without the customer’s authorization. The firm indicated that Anita Bali’s violation of the firm’s compliance policy procedures caused the incident harming the customer. Formerly, Anita Bali was employed at J.P. Morgan Securities LLC.
If you have experienced losses by investing with brokers Robert Fortune, Matthew Riez, and Anita Bali, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represent clients on a contingency fee basis and advance all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.
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