Malcolm Lynn Norris of South Carolina is a former Ameriprise Financial Services Inc. registered representative who is the subject of customer initiated investment related written complaint on November 7, 2016 where the customer sought $143,220.62 in damages supported by accusations that (1) an unsuitable business development company purchase had been effected in the customer’s account and (2) disclosures had not been made to the customer with regard to the risks and illiquidity of business development company investments.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Norris has been identified in two additional customer initiated investment related disputes containing allegations of his misconduct during the time he was registered with Ameriprise Financial Services Inc. Specifically, on July 29, 2015, a customer filed an investment related complaint regarding Norris’ activities in which the customer requested $45,711.40 in damages based upon accusations that misrepresentations had been made to the customer concerning the purchase of CNL Lifestyle Properties.
On August 4, 2016, another customer filed an investment related complaint concerning Norris’ conduct where the customer sought $59,048.84 in damages supported by allegations that the customer was not apprised about the illiquidity pertaining to a Corporate Capital Trust investment at the point in which the business development company was purchased by the customer.
Norris’ registration with Ameriprise Financial Services, Inc. was terminated on September 29, 2015.
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