Cheryle Anne Brady, of Hingham, Massachusetts, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been fined $7,500.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that she effected securities trades in Ameriprise customer investment accounts without authorization from customers. Letter of Acceptance, Waiver and Consent, No. 2016051588201 (Oct. 6, 2017).
According to the AWC, in June of 2016, ten trades were placed in customer accounts by Brady’s assistant, where customers did not consent to the transactions beforehand. Apparently, Brady falsely claimed to her firm in June and July of 2016 that she spoke with the customers concerning the trades and received approval before directing her assistant to complete the transactions.
The AWC stated that Brady made false statements; she never spoke with the customers before trades were placed in their accounts. Brady apparently admitted to FINRA and her firm that she failed to speak with the customers. FINRA found that Brady’s conduct was violative of FINRA Rule 2010.
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