The Financial Industry Regulatory Authority (“FINRA”) barred Ameriprise Financial Services Inc. broker Mark Sachse (CRD#: 5155260, Overland Park, Kansas) for not complying with a FINRA probe. Notably, the FINRA BrokerCheck Report for Sachse shows that FINRA made a “request for information” which Sachse failed to answer. Supposedly, FINRA inquired into Sachse to see if he failed to comply with FINRA rules given Sachse’s disciplinary history.
Evidently, on July 18, 2018, FINRA notified Mark Sachse that it was going to suspend him for his failure to respond. The suspension became effective September 10, 2018. Since Sachse did not request termination of his suspension within three months of FINRA’s notification, FINRA revoked Sachse’s broker privileges. Because of this, Sachse cannot, under any circumstances, act as a broker or even associate with a securities broker.
Sachse registered through Ameriprise on August 6, 2010. However, Ameriprise suspended Mark Sachse on March 19, 2018 for misconduct on the job. On March 22, 2018, Ameriprise disaffiliated with Sachse after finding that he violated a “code of conduct” policy. Namely, Ameriprise claimed that Sachse impersonated the firm’s staff and gave inaccurate and misleading information to Ameriprise clients.
One of the clients who Ameriprise may be referring to brought a lawsuit (Case 4:18-cv-01023-HFS) on January 24, 2019. Namely, the client claimed that Mark Sachse made unreasonable investment recommendations in regards to OTC equities. Supposedly, Sachse told the client to trade on margin which was unfitting for the customer. Secondly, the client claimed that Sachse traded without the client’s permission. Also, Sachse supposedly made false statements and failed to tell the client important facts about the OTC equities. Because of this, the client demanded $450,000 in damages in this pending matter.
If you suffered losses from Mark Sachse, contact Soreide Law Group at (888) 760-6552. You’ll be able to speak with experienced counsel about a possible recovery of your investment losses. Notably, Soreide Law Group has recovered millions of dollars for investors who have suffered losses due to broker and brokerage firm misconduct. The firm represents clients on a contingency fee basis and advances all costs.
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