Ameriprise Rep Barred for Unauthorized Mutual Fund Trades

In today's Blog we consider the case of a former Ameriprise stockbroker accused of entering 30 unauthorized mutual fund purchases valued at some $260,000. Her brokerage firm seems to have been on top of its compliance duties, and busted the trades. FINRA seems to have been on top of its regulatory duties, and demanded answers. The stockbroker ducked FINRA and was suspended and then barred for her dilatory conduct but — Eureka! — after some eight months of playing regulatory hide-and-seek, she gets FINRA to lift the bar when she finally cooperates. And after her belated cooperation, go figure, she winds up barred. Case In PointFor the purpose of proposing a settlement of rule violations alleged by the Financial Industry Regulatory Authority ("FINRA"), witho…

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