Shawn Elizabeth Parker of Schaumburg, Illinois, 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 Parker converted $25,000.00 from Ameriprise Financial Services. Letter of Acceptance, Waiver, and Consent No. 2019064551501 (April 20, 2022).
Parker hosted an event for approximately 250 clients during the holiday season at a local banquet venue. At the conclusion of the event, the venue issued an invoice detailing the charges incurred, including the costs of the food and beverages served, which Parker paid. At the conclusion of events, Parker directed her staff to prepare reimbursement requests to be submitted to the firm, seeking reimbursement for Parker from wholesaler contributions that had been provided for the event.
Ironically, these are probably the same wholesalers, or promoters of certain issuers of Real Estate Investment Trusts (REITs) and Business Development Companys (BDCs) that form the basis of the complaints against Parker for making unsuitable investment recommendations.
FINRA Public Disclosure shows that Parker is referenced in eight customer initiated investment related disputes concerning Parker’s conduct while associated with securities broker dealers, including Ameriprise Financial Services LLC. On February 24, 2011, a customer initiated investment related FINRA securities arbitration claim involving Parker’s conduct was settled for $25,000.00 in damages based upon allegations that Parker made unsuitable recommendations, made misrepresentations and omissions of material fact, breached her fiduciary duties, was negligent, and breached a contract in connection with the sale of stocks. FINRA Arbitration No. 09-05403.
On September 8, 2020, another customer filed an investment related complaint involving Parker’s conduct in which the customer requested $77,000.00 in damages based upon allegations that Parker made unsuitable recommendations of REITS and BDCs. Parker was also referenced in a customer initiated investment related complaint filed on December 10, 2020, in which the customer requested compensation based upon allegations that Parker made misrepresentations of material fact and committed forgery in connection with the sale of REITs and BDCs.
On January 27, 2021, another customer filed an investment related complaint involving Parker’s conduct in which the customer requested $254,336.56 in damages based upon allegations that Parker made misrepresentations of material fact in connection with the sale of variable annuities.
Parker was associated with Ameriprise Financial Services LLC in Schaumburg, Illinois, as a stockbroker from November of 1987 to June of 2020. On June 8, 2020, Ameriprise Financial Services LLC permitted Parker to resign based upon allegations of Parker violating a compliance policy relating to reimbursements.