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Ameriprise Broker Sanctioned for Sale of BioChemics Scientific Stock-Plano, Texas

Ameriprise Broker Sanctioned for Sale of BioChemics Scientific Stock-Plano, Texas

Ameriprise Broker Sanctioned for Sale of BioChemics Scientific Stock-Plano, Texas 150 150 Rex Securities Law

February 9, 2016- Plano, Texas

William Wesley Marshall entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that  he participated in private securities transactions, raising $1.72 million for  BioChemics Scientific, a biopharmaceutical company that claimed to specialize in a purported transdermal drug delivery system.

According to FINRA, Marshall, while working for Ameriprise Financial Services, continued to remain under a consulting contract with BioChemics who had agreed to compensate him for raising capital. Ameriprise Financial did not offer privately issued shares of BioChemics for purchase by investors during that time.

Although Marshall’s supervisor was aware of Marshall’s participation with BioChemics at the time he joined Ameriprise, he did not provide the firm with any written notice of that involvement.

AWC No.  2012033291204

Marshall was fined $10,000 and suspended from association with any FINRA member for 15 months.

FINRA records indicate that Marshall was registered with Summit Brokerage Services since 1/2011. Prior to that he was registered with Southwest Securities from 1/2002-2/2011.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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