Defendant Name: Ameriprise Financial Services, LLC

Defendant Type: Subsidiary of Public Company

Document Reference: 2024-98_3-22004

Document Details

Legal Case Name In the Matter of Ameriprise Financial Services, LLC
Document Name Twenty-Six Firms to Pay More Than $390 Million Combined to Settle SEC's Charges for Widespread Recordkeeping Failures
Document Date 14-Aug-2024
Document Format Administrative Proceeding
File Number 3-22004
Allegation Type Broker Dealer
Document Summary On August 14, 2024, the SEC "announced charges against 26 broker-dealers, investment advisers, and dually-registered broker-dealers and investment advisers for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Monetary Penalties:

Civil Penalty

Individual:     $50,000,000.00 Shared:    

Related Documents:

34-100707 14-Aug-2024 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-And-Desist Order
On August 14, 2024, the SEC instituted administrative and cease-and-desist proceedings against Ameriprise Financial Services, LLC, stating: "These proceedings arise out of the widespread and longstanding failure of Ameriprise Financial Services personnel throughout the firm, including at senior levels, to adhere to certain of these essential requirements and the firm’s own policies. Using their personal devices, these personnel communicated both internally and externally by text messages and/or other unapproved written communications platforms (“off-channel communications”)."