Fernando Batista Martins of Morristown New Jersey a stockbroker formerly registered with HSBC Securities (USA) Inc. is the subject of a customer initiated investment related written complaint on October 31, 2016 in which the customer requested $60,000.00 in damages founded on allegations that (1) transactions were placed in the customer’s account that were not suitable for the customer and (2) Martins neglected to inform the customer about the fees pertaining to mutual fund investments.
FINRA Public Disclosure additionally reveals that on October 11, 2002, a customer initiated investment related arbitration claim involving Martins’ conduct was settled for $30,000.00 in damages supported by accusations that while Martins was associated with Ladenburg Capital Management Inc., he misrepresented over-the-counter equities investments, placed unauthorized transactions in the customer’s account, churned the customer’s investment portfolio and executed transactions that were not suitable for the customer.
Martins’ registration with HSBC Securities (USA) Inc. was terminated on September 11, 2017.
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