Edric Michael McSween of Naples, Florida, a stockbroker formerly registered with Ameriprise Financial Services, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he failed to comply with the regulator while under investigation for potentially engaging in unauthorized outside business activities and unauthorized arrangements with customers of the securities broker dealer. Letter of Acceptance, Waiver, and Consent No. 2021070837001 (May 10, 2022).
According to the AWC, FINRA’s investigation into McSween began when he was terminated as a stockbroker by Ameriprise Financial Services. McSween was permitted to resign on February 26, 2021, while under an internal investigation by Ameriprise Financial Services for possible violations of policies relating to business relationships with customers and undisclosed outside business activities.
FINRA reached out to McSween on March 15, 2022, requesting information and documents. FINRA asked for McSween to clarify why he resigned from Ameriprise Financial Services. On April 26, 2022, McSween phoned FINRA to relay that he received the request for his documents and information. He relayed that this would not be provided at any time for the regulator’s investigation. FINRA found that the stockbroker’s refusal to comply with the investigation showed that he violated FINRA Rules 2010 and 8210.
McSween was registered with Ameriprise Financial Services between February 19, 1993, and March 18, 2021.