HSBC Securities (USA) Inc.

Discharged

Employee was discharged after evidence was raised that caused concerns relating to the employee's compliance with regulatory standards as well as firm policies and procedures regarding sales practices.

THE STATED REASONS FOR MY TERMINATION WERE BASED ON ANINCOMPLETE AND BIASED SUMMARY REVIEW BY HSBC THAT THEY CLAIMCAUSED 'CONCERNS' ABOUT COMPLIANCE WITH THE UNSPECIFIEDREGULATORY STANDARDS AND UNDEFINED FIRM POLICIES REGARDINGSALES PRACTICES. I WAS NOT FORMALLY ACCUSED OF ANY ACTUALVIOLATION OF FIRM POLICIES OR REGULATORY STANDARDS.ACCORDINGLY, I WAS WRONGFULLY TERMINATED. THE UNSPECIFIED'CONCERNS' COULD NOT HAVE JUSTIFIABLY CAUSED MY TERMINATION, ASTHE FIRM HAD A RANGE OF AVAILABLE SANCTIONS BELOW TERMINATIONTHAT APPARENTLY WERE NEVER CONSIDERED. HSBC FAILED TO PROVIDENECESSARY FACTS TO GIVE THE READER OF THIS FORM ANUNDERSTANDING OF WHAT CONDUCT CONSTITUTED A RULE OR POLICYVIOLATION.THE FIRM'S SAMPLE OF MUTUAL FUND ACCOUNTS PRESENTED DURING THEIR REVIEW WAS UNREASONABLY SMALL AND NOT REPRESENTATIVE OFMY CLIENT AUTHORIZED TRANSACTIONS. I ALWAYS CAREFULLYCONSIDERED AND COMPLIED WITH CUSTOMER SUITABILITYREQUIREMENTS, OBJECTIVES AND RISK TOLERANCE. I DID NOT EXCEEDFIRM-SPECIFIED CONCENTRATION LIMITS, AND ALL TRANSACTIONS PASSEDSUPERVISORY REVIEW LEVELS. I SUCCESSFULLY 'PASSED' PRIOR FIRMREVIEWS WITHOUT ANY 'CONCERNS' BEING RAISED TO ME OR MYSUPERVISORS