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FINRA Bars Former Ameriprise Advisor Over $2.2 Million in Client Loans

Posted on August 15th, 2025 at 1:42 PM
FINRA Bars Former Ameriprise Advisor Over $2.2 Million in Client Loans

From the desk of Jim Eccleston at 麻花传媒

The Financial Industry Regulatory Authority (FINRA) has permanently barred former Ameriprise Financial broker Eric A. Dupre for borrowing more than $2.2 million from clients without firm authorization. According to a FINRA Acceptance, Waiver and Consent (AWC), Dupre engaged in multiple undisclosed loan transactions between September 2022 and February 2023.

As reported by AdvisorHub, Dupre borrowed over $2.1 million from a 77-year-old customer through several transactions and has not repaid the client. In a separate transaction, Dupre borrowed $65,000 from a married couple in September 2022 but repaid the amount in December of that year. All of these actions occurred without seeking or receiving approval from Ameriprise, violating both firm policy and FINRA rules.

FINRA noted that Dupre was facing personal financial hardship at the time of the loans and promised to repay the elderly client with interest. However, the customer had to take out margin loans from his Ameriprise account to provide Dupre with the funds, resulting in substantial margin debt. FINRA concluded that, given his financial condition, Dupre lacked a reasonable expectation that he could repay the loans.

Ameriprise terminated Dupre in December 2024, citing violations of company policy related to borrowing from clients, according to AdvisorHub.

FINRA found Dupre in violation of its rules prohibiting borrowing from customers without firm approval, as well as Rule 2010, which requires advisors to uphold high standards of commercial honor and just and equitable principles of trade. Dupre accepted the sanctions without admitting or denying FINRA’s findings.

 

麻花传媒 LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, finra, ameriprise

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