Maria Tamburro (CRD#: 5977689) is a previously registered investment advisor and securities broker. Most recently, Ms. Tamburro was employed at Ameriprise Financial Services (2011-2016), based out of an office in Florham Park, New Jersey.
On May 29th, 2018, the Financial Industry Regulatory Authority (FINRA) barred Maria Tamburro from associating with any FINRA member firm in any capacity.
According to investigators, Ms. Tamburro made unauthorized transactions in the form of unapproved mutual fund purchases on behalf of at least six customers. For full details regarding FINRA’s decision, please refer to Disciplinary Proceeding No. 2018056872301.
FINRA Complaint: Maria Tamburro
FINRA alleges that Ameriprise Financial Services broker Maria Tamburro executed at least 35 unauthorized mutual fund transactions on the accounts of at least six different customers. The total value of the transactions exceeded $260,000, and generated more than $7,000 in ill-gotten commissions and fees. Notably, one customer lacked sufficient funds to make the transaction, so money was transferred over from the account of another investor.
In addition to these allegations, FINRA states that Ms. Tamburro failed to respond to a request for information to assist the investigation. This is a direct violation of FINRA Rule 8210. Without admitting or denying wrongdoing, Maria Tamburro consented to the proposed penalties, which include a bar from the securities industry.
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