Brian David Schwartz of New York New York a stockbroker currently registered with HSBC Securities (USA) Inc. is the subject of a customer initiated investment related complaint which was settled on July 30, 2019 for $11,105.25 in damages based upon allegations that the amount of stock Schwartz purchased in an initial public offering failed to be suitable for the HSBC customer.
Schwartz has been identified in three more customer initiated investment related disputes concerning accusations of his misconduct while employed by securities broker dealers including HSBC. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that a customer initiated investment related complaint concerning Schwartz’s activities was resolved for $41,796.00 in damages founded on accusations that the customer was placed in unsuitable mutual funds during the time that Schwartz was employed by HSBC.
Another customer initiated investment related complaint in reference to Schwartz’s conduct was resolved for $13,500.00 in damages based upon accusations that one or more mutual funds transactions failed to be suitable for the customer and that misrepresentations were made by the stockbroker regarding those mutual fund investments when he was associated with HSBC.
Schwartz is also referenced in a customer initiated investment related complaint which was settled on October 3, 2017 for $10,000.00 in damages based upon allegations that it was inappropriate for the HSBC customer’s managed account funds to be allocated in long term bonds when the customer needed to invest on a short term basis and had planned on using those funds for the purchase of a home.
Schwartz has been registered with HSBC since April 11, 2003.
