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Violation Tracker Individual Record

Company: American Express Financial Advisors Inc.
Current Parent CompanyAmeriprise 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.