John Douglas Engler Sr. of Martinez, Georgia, a stockbroker registered with Ameriprise Financial Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Engler failed to testify in a FINRA investigation into allegations of misappropriation during the time that he was associated with Ameriprise Financial Services LLC. Letter of Acceptance, Waiver, and Consent No. 2023079884201 (April 1, 2024).
The investigation into Engler was initiated after Ameriprise Financial Services filed an amended Form U5 on September 20, 2023. This Form U5 disclosed a customer lawsuit against Ameriprise, alleging that Engler engaged in unsuitable trading and misappropriated funds from her account.
As part of the investigation, FINRA requested Engler to testify according to FINRA Rule 8210, which requires that stockbrokers must comply with FINRA requests for information or testimony concerning any matters involved in an investigation. Engler, however, refused to comply with this request. On March 5, 2024, FINRA sought Engler’s testimony regarding the accusations in the amended U5. Despite acknowledging receipt of this request, Engler communicated on March 12, 2024, that he would not appear for the testimony at any time.
By refusing to appear for testimony, Engler violated FINRA Rules 2010 and 8210.
FINRA Public Disclosure shows that Engler has been referenced in three customer initiated investment related disputes concerning his conduct in the securities industry. He was the subject of a customer initiated investment related complaint that was settled for $48,319.97 in damages based upon allegations that Engler engaged in unauthorized trading during the time that Engler was associated with Ameriprise Financial Services LLC.
Another customer filed an investment related complaint involving Engler’s conduct in which the customer requested $70,000.00 in damages based upon allegations that Engler mishandled and churned the customer’s account when Engler was associated with Prudential Securities Incorporated.
On November 1, 2023, a customer filed an investment related FINRA securities arbitration claim involving Engler’s conduct in which the customer requested $120,000.00 in damages based upon allegations that Engler made unsuitable recommendations in over-the-counter equities and engaged in an aggressive margin strategy. The claim also alleged that the customer’s funds were stolen or converted. FINRA Arbitration No. 23-03178.
Engler was associated with Ameriprise Financial Services LLC in Martinez, Georgia from October 24, 2014, to June 7, 2023.
