Li-Lin Hsu, of Los Angeles, California, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been permanently barred from associating with any FINRA member in any capacity based upon consenting to findings that she failed to respond to FINRA’s information request. Letter No. 2015045016702 (Jun. 1, 2016).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Hsu has been identified in three customer initiated investment related disputes containing allegations of her misconduct while employed with Ameriprise Financial Services, Inc. Specifically, on May 19, 2015, a customer filed an investment related written complaint involving Hsu’s conduct, based upon allegations that Hsu effected unauthorized transactions in the customer’s account which resulted in the customer’s financial losses.
Subsequently, on September 25, 2015, a customer filed an investment related arbitration claim regarding Hsu’s activities, in which the customer requested $805,370.00 in damages based upon allegations that Hsu misappropriated the customer’s assets. Hsu was also named in a customer initiated investment related arbitration claim on January 24, 2017, in which the customer requested $1,000,000.00 in damages based upon allegations that Hsu advised the customers to enter an unprofitable outside business venture for Hsu’s financial benefit, and unlawfully borrowed funds from the customers.
On March 27, 2015, Hsu was terminated from Ameriprise Financial Services based upon allegations that she violated her firm’s policies concerning the handling of complaints, appointment of beneficiary on a client’s account, commingling of assets, and engaging a foreign client in business relations.
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