Ameriprise To Pay $3.8M To Settle Forgery Case

Law360, New York (April 10, 2008, 12:00 AM EDT) -- Allegations that Ameriprise Financial Inc. failed to report numerous forgeries by its brokers will cost the firm $3.8 million, the amount that the brokerage agreed to pay to New Hampshire securities regulators to bring an end to the suit.

The New Hampshire State Bureau of Securities Regulation said on Thursday that it had reached a settlement with Ameriprise in which the firm agreed to pay $3.25 million in administrative fines. Ameriprise will also pay $150,000 to cover the costs of the bureau's investigation, as well as...
To view the full article, register now.