Donna Chen a/k/a Cheng-Ying Chen Fired by Sunbelt Securities, Inc. and Ameriprise Financial Services, Inc. and Barred from Securities Industry – Goodman & Nekvasil P.A., May Recover Investor Losses
Goodman & Nekvasil P.A., May Recover Investor Losses - Donna Chen a/k/a Cheng-Ying Chen Fired by Sunbelt Securities, Inc. and Ameriprise Financial Services, Inc. and Barred from Securities Industry
From 2011 until Donna Chen’s firing in 2016, Donna Chen was licensed with Sunbelt Securities, Inc. Donna Chen was previously licensed with Ameriprise Financial Services, Inc. until Donna Chen’s firing in 2011. According to FINRA’s records, Donna Chen was fired by Sunbelt Securities, Inc. on March 14, 2016. Sunbelt Securities, Inc. reported to FINRA that Donna Chen was under internal review for potential violations of FINRA Rules. Sunbelt Securities, Inc. reported that Donna Chen was accused of failing to provide prior written notification and receive written approval for outside business activities and private securities transactions.
FINRA reports that Donna Chen was previously fired by Ameriprise Financial Services, Inc. on October 12, 2011. Ameriprise Financial Services, Inc. reported to FINRA that Donna Chen was terminated for violating the firm’s policy on discretionary trading.
Subsequent to Donna Chen’s firing by Sunbelt Securities, Inc. FINRA investigated Donna Chen and brought a disciplinary action against Donna Chen. Donna Chen was barred from the securities and investment banking industry by the Financial Industry Regulatory Authority (FINRA) on August 29, 2016. FINRA reports that Donna Chen failed to respond to FINRA request for information.
FINRA also reports that Donna Chen was previously suspended from the securities and investment banking industry for 10 days and fined $5,000. FINRA reports that Donna Chen consented to the sanctions and to the entry of findings that Donna Chen exercised discretion when Donna Chen made 55 trades in 28 customer accounts, after receiving the customers’ consent to make the trades anywhere from several days to two months before placing each trade. FINRA reports that Donna Chen also exercised discretion in three customer accounts in the absence of having received any order for a definite amount of a specified security. According FINRA, for all 58 discretionary trades, Donna Chen failed to obtain prior written authorization from the customers or prior written acceptance of the accounts as discretionary be Donna Chen’s member firm. According to FINRA, during the relevant period, the firm prohibited discretionary trading in these types of customer accounts.
If you lost any money on investments with Donna Chen, you may be able to recover your losses from Ameriprise Financial Services, Inc. and/or Sunbelt Securities, Inc. This is because Ameriprise Financial Services, Inc. and Sunbelt Securities, Inc. had a duty to supervise Donna Chen.
If you lost money on investments with Donna Chen, and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Ameriprise Financial Services, Inc. and/or Sunbelt Securities, Inc. concerning Donna Chen’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Donna Chen and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
Keywords: Donna Chen, Cheng-Ying Chen, Sunbelt Securities, FINRA, Ameriprise Financial, SEC, Fraud, Attorney, Broker, Brokerage, Firm, Brokerage Firm, Invest, Lawyer, Securities Lawyer, Goodman and Nekvasil, Nekvasil, Goodman, Investor, Investment, Financial, Financial Services, SecuritiesBack to Blogs