STATE OF OHIO DEPARTMENT OF INSURANCE

On or about July 8, 2024, Staten's investment advisor license was suspended by the Ohio Department of Commerce. R.C. 3905.14(B)(17) provides that the Superintendent of the Ohio Department of Insurance may suspend, revoke, or refuse to issue a license for an agent for having any professional license or financial industry regulatory authority registration suspended or revoked or having been barred from participation in any industry.

Ohio Division of Securities

Division found that Respondent violated Ohio Revised Code Sections 1707.19(A)(1)(a), 1707.19(A)(1)(d), 1707.19(A)(1)(e), 1707.19(A)(1)(i), and 1707.19(A)(1)(k); and Ohio Administrative Code rules 1301:6-3-16.1(C), 1301:6-3-19(D)(2), 1301:6-3-19(D)(6), 1301:6-3-19(D)(7), 1301:6-3-19(D)(8), 1301:6-3-19(D)(9), 1301:6-3-19(D)(10), AND 1301:6-3-44(E)(1)(c).

Order

Suspension

Investment Adviser Representative (RA)

90 days

8/1/2024

10/30/2024

$8,870.34

Tax

Ohio Department of Insurance (ODI)

Respondent (i) had his Illinois non-resident insurance license application denied pursuant to the IDI Denial, triggering ODl's right to suspend, revoke, or refuse to renew Respondent's Ohio insurance license pursuant to ORC section 3905.14(8)(10), (ii) had his Virginia insurance license revoked pursuant to the VSCC Revocation, triggering ODl's right to suspend, revoke, or refuse to renew Respondent's Ohio insurance license pursuant to ORC section 3905.14(8)(10), and (iii) failed to disclose the IDI Denial and the VSCC Revocation on his Ohio insurance license renewal application dated November 30, 2021, triggering ODl's right to suspend, revoke, or refuse to renew Respondent's Ohio insurance license pursuant to ORC section 3905.14(8)(1).

Order

Civil and Administrative Penalty(ies)/Fine(s)

$1,119.46

$8,853.62

Tax

North Carolina Department of Insurance ("NCDI")

Respondent failed to disclose the VSCC Revocation within 30 days, a violation of N.C. Gen. Stat.§ 58-33-32(k).

Decision

Revocation

Commonwealth of Virginia State Corporation Commission ("VSCC")

Respondent failed to report to the VSCC the ODI Suspension and the IDI Denial within 30 days, a violation of§ 38.2-1826 C of the Code of Virginia.

Revocation

Revocation

Illinois Department of Insurance ("IDI")

Respondent failed to disclose on his application the ODI Suspension and a January 2013 misdemeanor, a violation of Section 500-70(a)(1) and (3) of the Illinois Insurance Code.

Decision

Denial

$58,000.00

Civil

Lien is for alimony; was back-dated to date divorce was filed.

Bankruptcy

Dismissed

Bankruptcy

Discharged

$129,196.67

Civil

I am paying my child support currently and making ordered payments to pay back child support and alimony arrangement.

AMERIPRISE FINANCIAL SERVICES, INC.

Permitted to Resign

ADVISOR PERMITTED TO RESIGN AFTER BEING SUSPENDED FOR COMPANY POLICY VIOLATIONS RELATED TO ONBOARDING, OVERSIGHT OF LICENSED STAFF AND COMPLETION OF REQUIRED TRAINING.

CLIENT ALLEGES THAT THE REP FIALED TO FOLLOW INSTRUCTIONS.

$8,214.83