Ameriprise Stockbroker Barred In Investigation

David Cohen Drees of Sandy Utah a stockbroker formerly registered with Ameriprise Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Drees neglected to cooperate with a FINRA inquiry that had been made after Drees was terminated from Ameriprise. Case No. 2018060347001 (Sept. 3, 2019).

FINRA Public Disclosure reveals that Drees was terminated by Ameriprise on October 4, 2018 which was during the time that he was internally investigated for engaging in violations of the securities broker dealer’s policy by way of forgery, alteration or some other unauthorized reuse of customer signatures to effect securities business.

FINRA sought information from Drees but to no avail. After initial requests for Drees’ information had been denied, the stockbroker received a Notice of Suspension letter dated May 31, 2019 and a Suspension from Association letter dated June 24, 2019. By that time, Drees was warned by FINRA that his future non-compliance with its requests could result in an automatic bar from the securities industry. Drees neglected to obtain a termination of his suspension by the deadline resulting in an automatic bar being imposed by FINRA on September 3, 2019.