Claris Law Legal Blogging Community

Name:

E-mail:

Phone Number:

Zip Code:

Your Question:

Editor: Debra G. Speyer, Esq.
Profession: Attorney

Ameriprise (formerly American Express Co.) Faced Being Shut Down by Regulators

Category: Arbitration

Ameriprise brokerage firm had faced being shut down by the NASD for failing to pay an arbitration award. Under the NASD arbitration system, a claimant who wins an arbitration against a brokerage firm receives their monetary award within thirty days of the award or the firm faces being shut down by the NASD. The situation with Ameriprise is a very unusual one. Typically brokerage firms that lose in arbitration pay the award due to the claimant.

Continue reading "Ameriprise (formerly American Express Co.) Faced Being Shut Down by Regulators"