Ameriprise Stockbroker Barred by FINRA In Investigation

old woman - Ameriprise Stockbroker Barred by FINRA In Investigation

Mark Joseph Sachse of Overland Park Kansas a stockbroker registered with Ameriprise Financial Services Inc. has been barred by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity based upon allegations that the stockbroker failed to respond to the regulator’s request for information about his activities. FINRA Case No. 2018057939001 (Oct. 22, 2018).

FINRA Public Disclosure confirms that Sachse is referenced in a customer initiated investment related civil action where the customer sought $450,000.00 in damages. According to the civil action, fraudulent statements and omissions were made concerning investments sold to the customer. Trades had been allegedly executed by the stockbroker without the customer’s permission. The claim also alleges that the customer was provided with bad recommendations relating to margin use and that a fiduciary duty was breached with regard to over the counter equity transactions effected when Sachse was employed by Ameriprise Financial. Civil Action No. 4:18-cv-01023-HFS (Sept. 27, 2018).

Ameriprise Financial discharged Sachse on March 22, 2018 based upon accusations that the stockbroker violated the securities broker dealer’s rules and had provided a customer with misleading information.