Kimberly Clark, Former Ameriprise Broker, Barred by FINRA
Kimberly Clark (CRD# 4312757), formerly a broker registered with Ameriprise Financial Services, refused to cooperate with an investigation into alleged misuse of funds, according to a recent sanction. MDF Law is investigating the former Hershey, Pennsylvania-based financial professional for similar conduct. If you are a former client with concerns about your accounts, contact us for a free consultation.
More information about Ms. Clark’s disciplinary history follows below. This post is based on a December 10, 2024 review of her BrokerCheck profile, a Financial Industry Regulatory Authority record.
FINRA Probed Misuse of Funds
On October 9, 2024, FINRA released a Letter of Acceptance, Waiver, and Consent (No. 2024081388501) outlining its disciplinary action against Ms. Clark. According to the Letter, FINRA had initiated an investigation into the circumstances surrounding her February 2024 resignation from Ameriprise. A filing by the firm in February 2024 disclosed that she resigned while under internal review “related to alleged misuse of funds.” The alleged misuse, according to the disclosure, was associated with an outside business activity.
As alleged, FINRA sent Ms. Clark a request to produce documents and information connected its investigation. She did not provide such, and indicated to FINRA via phone call that she would not. The regulator concluded that her refusal violated FINRA Rule 8210. Under this rule, FINRA can require associated persons to provide documents and information connected to matters under its investigation. The rule also establishes that such persons may not refuse to provide such.
Violations of Rule 8210 are also violations of Rule 2010, which requires associated persons to uphold high standards of commercial honor. As a result of these findings, FINRA barred Ms. Clark from associating with any member firm in all capacities.
Understanding FINRA Rules 2150 and 3270
Under FINRA Rule 2150, brokers like Ms. Clark may not make “improper use of a customer’s securities or funds.” FINRA Rule 3270, meanwhile, prohibits them from participating in outside business activities “unless he or she has provided prior written notice to the member, in such form as specified by the member.” Outside business activities are any business activities outside the scope of their relationship with their member firm.
FINRA: Kimberly Clark Last Based in Hershey, Pennsylvania
Ms. Clark launched her career as a broker in 2001. That year, she registered with Wachovia Securities, where she worked until departing for RBC Dain Rauscher in 2004. She went on to work for Morgan Stanley and RBC Capital Markets before joining Ameriprise in 2019. She worked at the firm’s office in Hershey, Pennsylvania until her resignation in 2024. Currently barred from acting as a broker, she is no longer registered with any broker-dealer firm. With 22 years of experience, she has completed five industry exams, including the Series 31 and the Series 7.
MDF Law Advocates for Investment Fraud Victims
MDF Law’s experienced attorneys have recovered more than $100 million in lost funds for the victims of broker fraud. If you have complaints about your work with Kimberly Clark, call us to discuss your circumstances. We currently offer free consultations across the US, and we take cases on a contingency basis: clients only pay a fee if they collect a recovery. You may have a limited window to lodge a claim, so we urge you to avoid delay. Call 800-767-8040 to chat with an attorney today.