Thank you for sharing!

Your article was successfully shared with the contacts you provided.
During the relevant period, Ameriprise had an intricate compliance and supervisory system in place that included automated surveillance tools to detect fraud. But technical glitches allowed the criminals to avoid instant detection. All were immediately fired upon discovery of the crimes. (Photo: Shutterstock)

Ameriprise Financial Services Inc. has agreed to a $4.5 million settlement with the Securities and Exchange Commission for failing to catch five criminals among the firm’s ranks of roughly 9,700 registered advisors and brokers before those criminals could perpetrate crimes.

Nick Thornton


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.