Broker Wires $370k from Family Accounts

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Broker Wires $370k from Family Accounts

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.

By |2019-12-24T11:02:07-05:00March 2nd, 2017|Securities|0 Comments

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