Ameriprise: conviction for undue commissions

The broker Ameriprise to pay $ 17.3 million for having received millions of dollars in commission unduly linked to transactions in securities. It has agreed to pay the "fine" which was set by the SEC, the policeman of the American Stock Exchange. Was it really a choice?

"Ameriprise had demanded and received payments of 'revenue sharing' related to sales of securities, and did not disclose these payments as it should," the SEC said in a statement.

Of "commissions" are incompatible with the interests of objectivity that have financial advisors, as the patron saint of law enforcement at the SEC, Robert Khuzam.

Because it takes to add, of course, Ameriprise's customers were not informed of the incentives given to brokers to sell these investments.

Ameriprise is also accused of having sold more than 100 million shares of financial value, beyond the legal threshold.

Review of courses: Friday, losing the title Ameriprise 1.64% to 22.16 dollars to 15.00 GMT. Which is taken to be believed?