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Emily S Pao Barred for Failure to Cooperate with Conversion Investigation

FINRA barred former HSBC Securities broker Emily S Pao of HSBC's San Gabriel, California branch for refusing to cooperate with FINRA's investigation into allegations that Pao improperly converted funds from a retail bank customer.

FINRA AWC #2015045932001

Pao's BrokerCheck report indicates that HSBC Securities (USA) discharged her on June 9, 2015 after an internal investigation revealed that Pao converted a bank customer's funds. The report notes that Pao worked at HSBC's Temple City branch before transferring to San Gabriel, and previously was registered with Transamerica Financial Advisors and World Group Securities, both of San Gabriel, CA.

The firm's report states that after HSBC closed a customer's account for inactivity, it mailed the funds in that account to the customer. The allegation states that Pao had access to the customer's mail, received the check addressed to the customer, and subsequently signed and deposited that check into her own bank account.

Though Pao alleged that she deposited the check into her own account for the purposes of forwarding or providing the funds to the customer, the HSBC report found that those funds were not returned to the client.

If you have invested with Emily S Pao or with any other broker or financial adviser who has improperly taken possession of your funds or otherwise misappropriated or converted such funds for unauthorized use, and such misconduct has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

Categories: Discipline, Conversion, FINRA, HSBC
The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.