Violation Tracker Individual Record

Company: 
Ameriprise Financial Services, Inc.
Current Parent Company: 
Ameriprise Financial
Penalty: 
$200,000
Year: 
2009
Date: 
October 22, 2009
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
consumer protection violation
Violation Description: 

Ameriprise Financial Services agreed to pay $200,000 in settlement of allegations some employees engaged in unfair and deceptive practices while working as financial advisors, including charging customers for undelivered financial plans, failing to disclose fees for financial plans, forging client signatures on transactions, and selling unsuitable mutual funds and insurance products.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Massachusetts Attorney General
Civil or Criminal Case: 
civil
Facility State: 
Massachusetts
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.