Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Chin (Chin), previously associated with Credit Suisse Securities (usa) LLC, has at least one disclosable event. These events include one customer complaint, alleging that Chin recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint on November 12, 2021.
Credit Suisse incurred approximately $5.5 billion in losses following the March 26, 2021 default of Archegos Capital Management (“Archegos”), the family office of Sung Kook “Bill” Hwang. The putative class action lawsuit filed against Credit Suisse, Brian Chin, and others alleges that the defendants misrepresented to the market that CS had strong risk-management practices when in reality it was allowing its prime brokerage customers, such as Archegos, to take risky bets that violated those practices.