Defendant Name:
Ameriprise Financial Services, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Ameriprise Financial, Inc
SIC Code:
6282
CUSIP:
03076C10
Initial Case Details
Legal Case Name
In the Matter of American Express Financial Advisors Inc.
First Document Date
01-Dec-2005
Initial Filing Format
Administrative Action
File Number
3-12115
Allegation Type
Issuer Reporting and Disclosure
Violations Alleged
•
Rule G-15 Municipal Securities Rulemaking Board
Resolutions
First Resolution Date
01-Dec-2005
Headline Total Penalty and Disgorgement
$30,000,000
Related Documents:
33-8637
01-Dec-2005
Administrative Proceeding
Order Instituting Administrative and Cease-And-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Section 8A of the Securities Act of 1933 and Sections 15(b) and 21C of the Securities Exchange Act of 1934
According to the SEC: "This matter arises from AEFA's failure to adequately disclose certain material facts to its brokerage customers in the offer and sale of mutual fund shares and interests in college savings plans established under Section 529 of the Internal Revenue Code ("529 plans"). Specifically, AEFA did not adequately disclose to its brokerage customers information concerning revenue sharing agreements it had with certain mutual fund families."
34-57341
15-Feb-2008
Administrative Proceeding
Notice of Proposed Distribution Plan and Opportunity for Comment
The Commission stated: "all persons who desire to comment on the Distribution Plan may submit their comments, in writing, no later than March 17, 2008:
1. to the Office of the Secretary, United States Securities and Exchange Commission, 100 F Street, N.E., Washington, DC 20549-1090;
2. by using the Commission's Internet comment form (http://www.sec.gov/litigation/admin.shtml); or
3. by sending an e-mail to rule-comments@sec.gov."
It was further stated: "the comments received would be publicly available and that persons should only submit information that they wish to make publicly available."
The Commission also stated: "As proposed in the Distribution Plan, if approved, eligible customers of Ameriprise would receive a pro rata share of the Fair Fund as calculated by Ameriprise and the Independent Distribution Consultant ("IDC"). The pro rata shares of the Fair Fund would be determined based on information contained in Ameriprise's records and audited by the IDC. Eligible customers would not need to go through a claims process."
34-57341-pdp
15-Feb-2008
Administrative Proceeding
Corrected Proposed Fair Fund Distribution Plan
American Express Financial Advisors Inc., now known as Ameriprise Financial Services, Inc. ("Ameriprise"), pursuant to 17 C.F.R. 201.1100, et seq., herewith submits to the Securities and Exchange Commission and its Independent Distribution Consultant, Ameriprise's FAIR Fund Distribution Plan.
34-57639
09-Apr-2008
Administrative Proceeding
Order Approving Distribution Plan, Appointing an Administrator, and Waiving Bond
The order stated: "The Division of Enforcement proposes that the Commission approve the Distribution Plan submitted by Ameriprise as written, appoint Nelson S. Kibler as the Fund Administrator of the Distribution Plan, and waive the bond requirement of the Fund Administrator for the good cause shown in the Plan. Accordingly, it is hereby ordered pursuant to Rule 1104 of the Commission's Rule on Fair Fund and Disgorgement Plans, 17 C.F.R. §201.1104, that the Distribution Plan is approved."
34-81904
19-Oct-2017
Administrative Proceeding
Order Authorizing the Transfer to the U.S. Treasury of the Remaining Funds and Any Funds Returned to the Fair Fund in the Future, Discharging the Fund Administrator, and Terminating the Fair Fund
"Accordingly, it is ORDERED that: A. The remaining Fair Fund balance of $1,788,720.05 and any funds returned to the Fair Fund in the future, shall be transferred to the U.S. Treasury; B. The Fund Administrator, Nelson S. Kibler, is discharged; and C. The Fair Fund is terminated."
