{"id":1207,"date":"2013-03-04T13:50:51","date_gmt":"2013-03-04T13:50:51","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/03\/ameriprise_fined_750000_for_in_1"},"modified":"2022-03-10T16:36:04","modified_gmt":"2022-03-10T22:36:04","slug":"ameriprise-fined-750000-for-in-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ameriprise-fined-750000-for-in-1\/","title":{"rendered":"Ameriprise Fined $750,000 for Inadequate Supervision of Wire Transfer Requests"},"content":{"rendered":"

\t\t\t\tThe Financial Industry Regulatory Authority has fined Ameriprise Financial Services Inc. and American Enterprise Investment Services Inc. $750,000 for failing to properly supervise wire-transfer requests and customer fund transmissions to third parties. Also, the SRO has barred Jennifer Guelinas, an ex-Ameriprise broker, for allegedly forging the signatures of two clients on wire-transfer requests and moving about $790,000 to her bank accounts. Ameriprise is an American Financial Inc. (AMP) unit. <\/p>\n

FINRA said that Ameriprise had gone on to pay full restitution to its clients and that it was the latter’s affiliate clearing firm, American Enterprise Investment Services, that failed to put in supervisory systems for monitoring funds when they were transferred from client accounts to third parties. The SRO contends, however, that it was Ameriprise that did not detect that Guelinas wrongful actions even though there were a number of red flags. For example, she turned in three requests to send funds from a client’s account to bank account that appeared to belong to her. Amerirpise went ahead and put through the forged requests and moved the funds without asking questions. A third wire-transfer request by Guelinas also went through, says FINRA, but this time Ameriprise caught the wrongdoing before she could get to the money.<\/p>\n

Amerirpise says that the since these incidents, which occurred several years ago, the financial firm has improved its related procedures, policies, and technology. By settling, Ameriprise and American Enterprise Investment Services are not admitting to or denying the securities allegations. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Financial Industry Regulatory Authority has fined Ameriprise Financial Services Inc. and American Enterprise Investment Services Inc. $750,000 for failing to properly supervise wire-transfer requests and customer fund transmissions to third parties. Also, the SRO has barred Jennifer Guelinas, an ex-Ameriprise broker, for allegedly forging the signatures of two clients on wire-transfer requests and moving […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3791,3752],"tags":[],"class_list":["post-1207","post","type-post","status-publish","format-standard","hentry","category-ameriprise-securities-america","category-financial-firms"],"yoast_head":"\nAmeriprise Fined $750,000 for Inadequate Supervision of Wire Transfer Requests — Investor Lawyers Blog — March 4, 2013<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory Authority has fined Ameriprise Financial Services Inc. and American Enterprise Investment Services Inc. $750,000 for — March 4, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/ameriprise-fined-750000-for-in-1\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ameriprise Fined $750,000 for Inadequate Supervision of Wire Transfer Requests — Investor Lawyers Blog — March 4, 2013\" \/>\n<meta name=\"twitter:description\" content=\"The Financial Industry Regulatory Authority has fined Ameriprise Financial Services Inc. and American Enterprise Investment Services Inc. $750,000 for — March 4, 2013\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ameriprise Fined $750,000 for Inadequate Supervision of Wire Transfer Requests — Investor Lawyers Blog — March 4, 2013","description":"The Financial Industry Regulatory Authority has fined Ameriprise Financial Services Inc. and American Enterprise Investment Services Inc. $750,000 for — March 4, 2013","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/ameriprise-fined-750000-for-in-1\/","twitter_card":"summary_large_image","twitter_title":"Ameriprise Fined $750,000 for Inadequate Supervision of Wire Transfer Requests — Investor Lawyers Blog — March 4, 2013","twitter_description":"The Financial Industry Regulatory Authority has fined Ameriprise Financial Services Inc. and American Enterprise Investment Services Inc. $750,000 for — March 4, 2013","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/ameriprise-fined-750000-for-in-1\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ameriprise-fined-750000-for-in-1\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Ameriprise Fined $750,000 for Inadequate Supervision of Wire Transfer Requests","datePublished":"2013-03-04T13:50:51+00:00","dateModified":"2022-03-10T22:36:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ameriprise-fined-750000-for-in-1\/"},"wordCount":542,"articleSection":["Ameriprise - 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