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Cetera’s Howard Hsieh: REIT Complaint Settled for 6 Figures
Irvine, California stockbroker Howard Hsieh (CRD# 4947882) has received settled or pending investor complaints alleging he misrepresented and recommended unsuitable investments. According to Financial Industry Regulatory Authority records, he is presently a broker and investment adviser registered with Cetera Investment Services.
Mr. Hsieh’s BrokerCheck report discloses three pending investor complaints, one of which has reached settlement. The most recent complaint, filed in September 2021, alleges that he recommended unsuitable investments, alleging damages of $750,000. A second pending 2021 complaint alleges he misrepresented the timeframe associated with REIT investments, alleging damages of $5,000. The third pending complaint, filed in July 2019, alleges that he breached contract, committed promissory estoppel, violated state securities statutes, and violated consumer protection statutes; this complaint alleges damages of $500,000. All three of these complaints concern his conduct as a representative of Cetera Investment Services, and all three are still pending.
In addition to the three pending investor complaints, Mr. Hsieh’s BrokerCheck report lists one complaint that settled. Filed in 2021, the complaint alleged that as a representative of Cetera Investment Services, he recommended unsuitable REITs. In November 2021 the complaint reached a settlement of $450,000.
Finally, FINRA records describe one complaint against Mr. Hsieh that was denied by his firm. Filed in August 2020, the complaint alleged that while a Cetera representative, he misrepresented investments in REITs and was responsible for “various service issues.” The complaint was denied.
According to the Financial Industry Regulatory Authority, Howard Hsieh holds 16 years of securities industry experience. He is registered as a broker and investment adviser with Cetera Investment Services in Irvine, California. He is also registered with the firm’s offices in San Diego, Westminster, Artesia, Cerritos, and Carson, California. His past registrations include Bancwest Investment Services (Irvine; 2011-2013); PrimeVest Financial Services (City of Industry, California; 2011); Citigroup Global Markets (Cerritos, California; 2007-2011); and Citicorp investment Services (Cerritos; 2005-2007). His credentials include the passage of five securities industry examinations: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He presently holds five state licenses. (Information current as of May 11, 2022.)
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