Why have surveillance analysts if they sit on problems?  Why have supervisors if they don't supervise?  don't respond to 're not going Minneapolis-based Ameriprise Financial Services agreed to settle FINRA charges it failed to effectively detect or prevent misconduct by one of its brokers. The broker had forged customers’ signatures on various financial documents that he submitted to the firm for processing.  The broker agreed to pay certain fees for customers without alerting the firm in order to avoid complaints from these customers.

A firm surveillance analyst apparently became aware of potential forgeries by the broker, but failed to follow up with a timely investigation.  The firm’s supervisory system did not ensure that a timely investigation was conducted.

FINRA also found that the firm had implemented a new set of procedures for its surveillance department through which the firm discovered that the investigation of the broker had not been completed, and the firm promptly reassigned the matter to other surveillance personnel. 

It took nearly 2-1/2 years for Ameriprise to complete its investigation of the broker - from the time the investigation was first opened and the firm had found ample evidence of repeated forgeries by the broker, whose employment was then terminated. 

fined $50,000.  The findings also included that the broker agreed to be barred from associating with any FINRA firms for this
misconduct.   This is FINRA Case #2008013648002.   [Disciplinary Actions for June 2011]