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Violation Tracker Individual Record

Company: American Express Financial Advisors Inc.
Current Parent Company: Ameriprise Financial
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $700,000
Year: 2004
Date: November 30, 2004
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: NASD censured and fined 29 securities firms over $9.2 million for more than 8,000 late disclosures of reportable information about their brokers, including customer complaints, regulatory actions, and criminal charges and convictions.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Minnesota
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: NASD Fines 29 Firms over $9.2 Million for Late Reporting, PR Newswire, November 30, 2004 (via Nexis).
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.