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Edric McSween Barred by FINRA

Jun 10, 2022 Barred Broker

Edric McSween (CRD #: 2080810), a broker previously registered with Ameriprise Financial Services, has been barred by FINRA, according to his BrokerCheck record, accessed on June 3, 2022. Read on if you have questions about Edric McSween’s conduct as a broker.

Bar by FINRA

On May 10, 2022, Edric McSween was barred from FINRA for allegedly refusing to comply with a FINRA request for documents and information.

According to a letter of Acceptance, Waiver & Consent (AWC), FINRA was investigating him in relation to his resignation from Ameriprise Financial Services in 2021.

The firm allegedly filed a Uniform Termination Notice for Securities Industry Registration (Form U5) which stated that Edric McSween resigned during a firm investigation into potentially undisclosed outside business activity and violation of firm policy related to business relationships with clients.

FINRA Rules 8210 and 2010

FINRA Rule 8210 requires members to submit their books and records for inspection by FINRA, as well as to appear for testimony, in connection with FINRA investigations.

Failure to comply with Rule 8210 also constitutes a violation of FINRA Rule 2010, which requires brokers to uphold high standards of professional honor.

Sanctions

Edric McSween was permanently barred from FINRA on May 10, 2022.

You can read the full AWC here.

Outside Businesses

Edric McSween has the following outside businesses listed on his detailed BrokerCheck report

Real Estate Ownership: Multi-family property in Vauxhall, New Jersey and a single-family property in Columbia, Maryland. 

Business ownership: EM Squared Enterprises - owner / manager rental real estate in Bonita Springs, Florida.

Resignation from Ameriprise Financial Services

On February 26, 2021, Edric McSween was permitted to resign from Ameriprise Financial Services while allegedly under investigation for violating firm policies related to undisclosed outside business activities and business relationships with clients.

Tax Liens

From 2015-2018, Edric McSween faced a total of $77,309.46 in tax liens.

Background Information

Edric McSween has passed the following exams:

  • Series 65 - Uniform Investment Adviser Law Examination
  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination
  • Series 6 - Investment Company Products/Variable Contracts Representative Examination

He previously worked for the following firms:

  • Ameriprise Financial Services (CRD#:6363)
  • IDS Life Insurance Company (CRD#:6321)
  • MetLife Securities (CRD#:14251)
  • Metropolitan Life Insurance Company (CRD#:4095)

Kurta Law Can Help

If you worked with Edric McSween and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.