Defendant Name:
RiverSource Distributors, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Ameriprise Financial, Inc
SIC Code:
6282
CUSIP:
03076C10
Document Reference:
34-94978
Document Details
Legal Case Name
In the Matter of RiverSource Distributors, Inc.
Document Name
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
Document Date
25-May-2022
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$5,000,000.00
Shared:
