Daniel Minich, Formerly of Ameriprise Financial Services, Suspended by FINRA Following Participation in Private Securities Transactions

INVESTORS: Former Ameriprise Financial Services broker Daniel Minich was suspended by FINRA following allegations that he participated in three private securities transactions totaling approximately $200,000 without providing prior written notice to his member firm.

Daniel Minich (CRD#: 6465746) was registered as a broker with Ameriprise Financial Services from 2015 until 2020. Minich does not have any other securities experience.

Minich has two disclosures on his BrokerCheck report.

June 2022 Regulatory Judgment

Status: Final

Initiated By: FINRA

Allegations: Minich was named a respondent in a FINRA complaint alleging that he participated in three private securities transactions totaling approximately $200,000 without providing prior written notice to his member firm. The complaint alleges that Minich personally invested $50,000 in a hedge fund that purported to invest in cryptocurrency, without providing prior written notice to the firm. In return for his investment, he received a limited partnership interest in the hedge fund. In addition, Minich facilitated and assisted two firm customers with investing a combined total of $150,000 into the same hedge fund in return for limited partnership interests in the fund. Again, Minich did not provide the firm with prior written notice of these transactions. The complaint also alleges that Minich falsely certified to the firm in an annual attestation that he had not engaged in any private securities transactions other than those he had received preclearance for from the firm when, in fact, he had engaged in three private securities transactions without receiving preclearance from the firm.

Resolution: Decision & Order of Offer of Settlement

Sanction: Civil and Administrative Penalty(ies)/Fine(s)

Amount: $5,000.00

Sanction: Suspension

Registration Capacities Affected: All Capacities

Duration: Four Months

Start Date: 8/15/2022

End Date: 12/14/2022

Regulator Statement: Without admitting or denying the allegations, Minich consented to the sanctions and to the entry of findings that he participated in three private securities transactions totaling approximately $200,000 without providing prior written notice to his member firm. The findings stated that Minich participated in a private securities transaction by purchasing limited partnership interests in a hedge fund that purported to invest in cryptocurrency investments for approximately $50,000 away from the firm and outside of the regular course or scope of his employment with the firm. Minich failed to provide prior written notice of his purchase of the limited partnership interests in the hedge fund to the firm. In addition, Minich participated in private securities transactions by facilitating two customers’ separate purchases of limited partnership interests in the hedge fund for $50,000 and $100,000, respectively, away from the firm and outside of the regular course or scope of his employment with the firm. Minich failed to provide prior written notice of his facilitation of these purchases to the firm. The findings also stated that Minich made false statements on a firm annual attestation. Minich represented to the firm on an annual attestation that he had not engaged in any private securities transactions other than those he had received preclearance for through the firm. Minich’s response on that attestation was false, because Minich had participated in private securities transactions when he personally purchased a limited partnership interest in the hedge fund, and separately when he facilitated two customers’ purchases of limited partnership interests in the hedge fund. However, Minich did not receive preclearance from the firm to participate in these private securities transactions.

May 2020 Employment Separation After Allegations

Firm Name: Ameriprise Financial

Termination Type: Permitted to Resign

Allegations: Registered Representative resigned while under investigation for compliance policy violations related to Private Securities Transactions.

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