{"id":4798,"date":"2017-10-24T19:58:53","date_gmt":"2017-10-25T00:58:53","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4648"},"modified":"2022-03-22T15:05:43","modified_gmt":"2022-03-22T20:05:43","slug":"two-ex-ameriprise-financial-services-brokers-settle-finra-margin-trades","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/two-ex-ameriprise-financial-services-brokers-settle-finra-margin-trades\/","title":{"rendered":"Two Ex-Ameriprise Financial Services Brokers Settle With FINRA Over Margin Trades"},"content":{"rendered":"

\t\t\t\tFormer Ameriprise (AMP) Jack McBride has been ordered by the Financial Industry Regulatory Authority to pay a $12,500 fine and serve a 40-day suspension over alleged violations involving margin trades. He was registered with Ameriprise from 1994 to 2014. <\/p>\n

FINRA contends that it was during this period that he committed a number of violations, including settling a customer complaint without telling Ameriprise, sending emails that had inflated account values to two clients, and mismarking order tickets as unsolicited when they had been solicited. <\/p>\n

Regarding the margin trade violations, the regulator notes in the Letter of Acceptance, Waiver, and Consent that McBride settled with one couple by sending them almost $12,845 from his personal account rather than reporting their complaint to Ameriprise. The couple was charged margin interest after incurring a margin balance because McBride mistakenly bought $320K in securities for them using their Ameriprise account that did not have the balance to cover the cost. They had multiple accounts with the brokerage firm. <\/p>\n

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

Former Ameriprise (AMP) Jack McBride has been ordered by the Financial Industry Regulatory Authority to pay a $12,500 fine and serve a 40-day suspension over alleged violations involving margin trades. He was registered with Ameriprise from 1994 to 2014. FINRA contends that it was during this period that he committed a number of violations, including […]<\/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":[3791,3773,3752,3739],"tags":[2911],"class_list":["post-4798","post","type-post","status-publish","format-standard","hentry","category-ameriprise-securities-america","category-broker-fraud","category-financial-firms","category-finra","tag-margin-trades"],"yoast_head":"\nTwo Ex-Ameriprise Financial Services Brokers Settle With FINRA Over Margin Trades — Investor Lawyers Blog — October 24, 2017<\/title>\n<meta name=\"description\" content=\"Former Ameriprise (AMP) Jack McBride has been ordered by the Financial Industry Regulatory Authority to pay a $12,500 fine and serve a 40-day suspension — October 24, 2017\" \/>\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\/two-ex-ameriprise-financial-services-brokers-settle-finra-margin-trades\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Two Ex-Ameriprise Financial Services Brokers Settle With FINRA Over Margin Trades — Investor Lawyers Blog — October 24, 2017\" \/>\n<meta name=\"twitter:description\" content=\"Former Ameriprise (AMP) Jack McBride has been ordered by the Financial Industry Regulatory Authority to pay a $12,500 fine and serve a 40-day suspension — October 24, 2017\" \/>\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":"Two Ex-Ameriprise Financial Services Brokers Settle With FINRA Over Margin Trades — Investor Lawyers Blog — October 24, 2017","description":"Former Ameriprise (AMP) Jack McBride has been ordered by the Financial Industry Regulatory Authority to pay a $12,500 fine and serve a 40-day suspension — October 24, 2017","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\/two-ex-ameriprise-financial-services-brokers-settle-finra-margin-trades\/","twitter_card":"summary_large_image","twitter_title":"Two Ex-Ameriprise Financial Services Brokers Settle With FINRA Over Margin Trades — Investor Lawyers Blog — October 24, 2017","twitter_description":"Former Ameriprise (AMP) Jack McBride has been ordered by the Financial Industry Regulatory Authority to pay a $12,500 fine and serve a 40-day suspension — October 24, 2017","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\/two-ex-ameriprise-financial-services-brokers-settle-finra-margin-trades\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/two-ex-ameriprise-financial-services-brokers-settle-finra-margin-trades\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Two Ex-Ameriprise Financial Services Brokers Settle With FINRA Over Margin Trades","datePublished":"2017-10-25T00:58:53+00:00","dateModified":"2022-03-22T20:05:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/two-ex-ameriprise-financial-services-brokers-settle-finra-margin-trades\/"},"wordCount":617,"keywords":["Margin Trades"],"articleSection":["Ameriprise - 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