Please call our law firm today for a no-cost review if you wish to file a whistleblower claim against Ameriprise, and were a former or are a current employee of the bank. The type of activity the SEC is most interested in, includes brokers who materially mislead investors so that they make buying and selling decisions concerning stocks that they might not have made, had they been fully and accurately informed. It also includes specific sales abuses engaged in by Ameriprise or brokers with the firm. If an Ameriprise employee submits a tip to the SEC that is original, voluntary, and results in sanctions worth more than $1,000,000, the whistleblower could be rewarded between 10 and 30 percent of the fines collected. Millions of dollars have been paid to whistleblowers for their help in SEC investigations.
In 2016, a former branch manager, Michael Loscalso, sued Ameriprise, saying he was fired for raising serious allegations about its’ supervision of brokers. In his suit, Loscalso allged that his repeated complaints to management about “fraud, forgery and other practices that violated SEC rules and regulations led to the retaliatory termination of his employment” by Ameriprise. It also alleged that Mr. Loscalso “engaged in the protected activity of reporting violation of SEC rules and regulations to management on numerous occasions throughout his employment, and, immediately prior to his termination by Ameriprise. He also reported violations to his supervisors, including incidents related to forgery, fraud, unlicensed sales, unlicensed signing of documents, overcharging for financial planning services, under delivery of financial planning advice, and breaches of client privacy and data security.”
We have sued Ameriprise dozens of times in FINRA arbitration claims. If you wish to report unethical conduct at Ameriprise, and seek to make a whistleblower claim, please call our law firm today.
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