n May 13, 2020, ARTHUR STEWART HOFFMAN (ART S HOFFMAN) CRD#: 3193754, was barred by the Financial Industry Regulatory Authority Inc. (FINRA) from acting as a broker or otherwise associating with a broker-dealer firm.
Hoffman, a former broker with AMERIPRISE FINANCIAL SERVICES, LLC of Glendale, AZ, was barred for allegedly failing to participate in an investigation looking into alleged outside business interests. According to InvestmentNews, ARTHUR STEWART HOFFMAN was suspended by Ameriprise last month for outside business interests.
Without admitting or denying FINRA’s findings ARTHUR STEWART HOFFMAN consented to the sanction and to the entry of findings that he failed to provide documents and information requested by FINRA.
FINRA’s findings stated that FINRA opened an investigation in response to a disclosure filed by Hoffman’s member firm, which allegedly stated that Hoffman had been suspended for company policy violations related to outside business activities and private securities transactions.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, ARTHUR STEWART HOFFMAN had been registered in the securities industry for 21 years. He has two disclosures on his CRD report. One is the regulatory which he was barred by FINRA and the other is from 2016, a customer dispute following allegations, “The complaint includes claims for Arizona securities fraud; fraud in provision of investment advisory services, common law fraud and misrepresentation; breach of fiduciary duties; fraudulent concealment; negligent misrepresentation; negligence; negligent supervision; and document turnover and accounting.” This dispute settled for $329,500.00.
ARTHUR STEWART HOFFMAN, according to BrokerCheck, was with four firms during his 21 years in the securities industry. The most recent are listed below:
11/18/2016 – 05/13/2020 AMERIPRISE FINANCIAL SERVICES, LLC – Glendale, AZ
05/07/2009 – 11/22/2016 WEDBUSH SECURITIES INC – GLENDALE, AZ
If you’ve suffered losses due to the actions or recommendations of the broker ARTHUR STEWART HOFFMAN, formerly with Ameriprise Financial and Wedbush Securities, both of Glendale, Arizona, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents clients nationwide before FINRA on a contingency fee basis–no fee to you if no recovery.