Defendant Name: RiverSource Distributors, 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 RiverSource Distributors, Inc.
First Document Date 25-May-2022
Initial Filing Format Administrative Action
File Number 3-20871
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Section 11 Investment Company Act

Resolutions

First Resolution Date 25-May-2022
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

34-94978 25-May-2022 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 15(b)(4) of the Securities Exchange Act of 1934 and Section 9(f) of the Investment Company Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On May 25, 2022, the SEC instituted settled administrative and cease-and-desist proceedings against RiverSource Distributors, Inc. stating: "These proceedings involve violations of Section 11 of the Investment Company Act (“Section 11”) by RDI, a principal underwriter of variable annuities."
2022-89 25-May-2022 Press Release--Administrative Proceeding
SEC Charges RiverSource Distributors with Improper Switching of Variable Annuities
The SEC "announced settled charges against RiverSource Distributors Inc. for improper switching or replacing of variable annuities. This is the SEC’s first-ever enforcement proceeding under Section 11 of the Investment Company Act of 1940."