Corey Mireau: FINRA Suspends Former Minnesota Ameriprise Advisor

A disciplinary action taken by the Financial Industry Regulatory Authority against former Eden Prairie, Minnesota broker and investment advisor Corey Mireau (CRD# 3046777) suspended him over allegations he took undisclosed and unapproved loans from firm customers. A former representative of Ameriprise Financial Services, Mireau was fined $15,000 and suspended from acting as a broker for two years as a result of these findings.

According to a Letter of Acceptance, Waiver, and Consent (No. 2017055910301) dated April 2019, Corey Mireau borrowed loans of $150,000 and $500 in September 2013 and May 17, respectively, from two firm customers, without providing notice to or receiving approval from Ameriprise Financial Services. In September 2013, according to FINRA, he used the loan of $150,000 to make an investment of $140,000 in a private securities transaction in which he engaged without notifying Ameriprise or receiving the firm’s prior written approval. Later, in 2014 and 2015, he allegedly participated in outside business activities involving the provision of consulting services to another Ameriprise customer, without notifying the firm as FINRA rules require. FINRA’s findings also state that he made false attestations in several annual compliance questionnaires that he had provided full disclosures regarding his outside business activities and that he had not participated in unapproved private securities transactions, attestations FINRA found to be in violation of FINRA Rule 2010.

FINRA’s findings go on to say that Corey Mireau took the $150,00 loan for the purposes of investing in VDI, “a wholesale company in the e-cigarette business.” His loan agreement allowed him to extend the due date of principal repayment by one year, which he later invoked, though FINRA’s findings state that “to date, he has not repaid any portion of the principal or interest due and owing on the $150,000 loan.” He did repay in full the $500 loan taken in 2017, according to FINRA.

FINRA’s findings also state that Corey Mireau’s outside business activities involved the performance of “outside consulting work” for a firm customer and a company owned by that customer. He received compensation totaling $1,250 for those services, according to FINRA, but did not disclose his activities to Ameriprise.

As a result of the foregoing alleged conduct, Corey Mireau was suspended for two years from association with any FINRA-regulated broker-dealer in any capacity. He was also ordered to pay a fine of $15,000.

Corey Mireau is not currently registered as a broker or investment advisor. His employment history includes Ameriprise Financial Services in Eden Prairie, Minnesota and IDS Life Insurance Company. He currently holds no state registrations and has passed four securities industry qualification examinations.