Individual Brokers employed at Ameriprise forged client signatures. Ameriprise on the hook for failing to supervise thieving reps. (Article posted in Investment News August 20th, 2018).
$4.5 million fine imposed by the Securities and Exchange Commission, charging that it failed to safeguard retail investor assets from theft by its representatives.
Five former Ameriprise brokers were named in the SEC’s order, and most were caught and fired in 2013. Three of the brokers received prison sentences, according to the SEC.
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