Violation Tracker Individual Record

Company: 
Ameriprise Financial Services, Inc.
Current Parent Company: 
Ameriprise Financial
Penalty: 
$983,984
Year: 
2009
Date: 
October 28, 2009
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

Ameriprise agreed to pay a $300,000 penalty, a $100,000 contribution to the state Investor Protection Trust, $50,000 in costs, and $533,984 in restitution in settlement of allegations it engaged in dishonest treatment of investment clients and failed to supervise two of its agents who were alleged to have committed multiple securities violations.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Kentucky Department of Financial Institutions
Civil or Criminal Case: 
civil
Facility State: 
Kentucky
HQ Country of Parent: 
USA
HQ State of Parent: 
Minnesota
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.