Broker Wires $370k from Family Accounts

by | 0 comments

As a result of allegedly missing numerous red flags of broker misconduct, FINRA fined Ameriprise $850,000. The fine was imposed as a result of Ameriprise management’s failure to detect nine wire transfers, totaling $370,000, from customer accounts to the personal account of an Ameriprise Financial advisor. The advisor’s misconduct went undetected for two years and was only discovered when a co-worker became suspicious of the advisor forging customer signatures.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *