FINRA sanctioned securities broker Cynthia S. Beyerlein (also known as Cindy Beyerlein) [CRD: 4320421, San Diego, California], considering the disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Beyerlein worked for Ameriprise Financial Services LLC from April 25, 2014, until February 9, 2023, and briefly at Kingswood Capital Partners LLC from March 28, 2023, to March 30, 2023. Continue reading to learn more about Beyerlein’s disclosures and the implications for investors.
FINRA Sanctioned Beyerlein For Borrowing From Ameriprise Client Without Approval
Specifically, on April 8, 2024, the Financial Industry Regulatory Authority (FINRA) issued Case: 2022076420001 sanctioning Cynthia Beyerlein. Notably, FINRA alleged that Beyerlein borrowed approximately $190,000 from a client of Ameriprise Financial Services LLC without prior written notice or approval from the firm.
Details Of The Regulatory Action About Cynthia Beyerlein
Specifically, according to FINRA, in 2021, Beyerlein borrowed about $190,000 through multiple loans for personal expenses, none of which were documented or agreed upon in terms set by either the client or Ameriprise. These actions violated FINRA Rule 3240, concerning borrowing from clients, and Rule 2010.
Ameriprise's policies prohibit customer loans unless under specific conditions, none of which applied in Beyerlein's situation. Supposedly, Beyerlein did not repay the loans or execute any formal agreements concerning repayment terms. Her actions led to an eight-month suspension from associating with any FINRA member in all capacities.
Did You Sustain Losses Because Of Cynthia Beyerlein?
Experienced losses due to Cynthia Beyerlein? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities lawyer concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Beyerlein and the brokerage firms she worked for deny any allegations of sales practice violations.
