Household HSBC Watch

As litigation and suits begin in the subprime arena, websites like Mortgage Blues added discussion areas specifically for suits and settlements. Now you can add Burns & Levinson LLP to the list of law firms that has added a subprime practice to deal with the fallout of the collapse of the subprime […]

NEW YORK — The National Association of Securities Dealers said it fined a U.S. brokerage unit of HSBC Holdings PLC $250,000 for failing to have adequate systems in place to supervise trading of government securities.

The firm, HSBC Brokerage, also failed to ensure that its customers wouldn’t be harmed by its routing orders to HSBC Securities, […]

An NASD arbitration panel found HSBC Brokerage (USA) Inc., liable for $776,000 for negligent misrepresentations and omissions in the sale of a structured note. On Friday, May 4, 2007, the NASD panel awarded $776,000 to Rayburn Enterprises and a related trust. Rayburn Enterprises was represented by Dempsey & Johnson, a Los Angeles, California law firm.

“It […]

Tuesday, July 19, 2005 - Speculation is that brokerage firm Charles Schwab was poised to be acquired by British banking giant HSBC Holdings. HSBC has declined to comment on the speculation, and Schwab has stressed that it is not for sale. Schwab appointed America’s leading expert on predatory lending, William Aldinger, to its board of […]

In December the New York Stock Exchange (NYSE) fined HSBC Securities $500,000 for failure to preserve electronic communications from early 2000 through September 2002.

Previously a source at the NASD confirmed that it is also investigating the former brokerage. [See: “Informer“] This was warranted, the former employee says, because there had been a host of regulatory […]