SBR Wins $3.25 Million FINRA Arbitration Award Against HSBC

Following a two week hearing, SBR won a $3.25 million award for its client, a foreign financial institution, in a FINRA arbitration against HSBC Securities and one of HSBC’s registered representatives.  In 2007, SBR’s client purchased an interest in a German CDO called H.E.A.T. Mezzanine I-2006.  SBR’s client contended that, by the time this CDO was sold to it, several undisclosed problems existed with the underlying portfolio of loans comprising the CDO.  At the hearing, SBR successfully demonstrated that, at a minimum, HSBC Securities and its representative were negligent in failing to disclose these underlying problems which necessarily would have caused the CDO to be priced much lower.

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