UNITED STATES OF AMERICA

UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 85641 / April 15, 2019

ADMINISTRATIVE PROCEEDING

File No. 3-12114

In the Matter of

American Express Financial Corporation

(now known as Ameriprise Financial,

Inc.)

ORDER DIRECTING

DISBURSEMENT OF FAIR FUND

Respondent.

On April 1, 2016, the Commission published a Notice of Proposed Plan of Distribution

and Opportunity for Comment (“Notice”)1 pursuant to Rule 1103 of the Commission’s Rules

on Fair Fund and Disgorgement Plans (“Commission’s Rules”).2 The Notice advised

interested persons that they could obtain a copy of the Proposed Plan of Distribution (“Plan”)

from the Commission’s public website at http://www.sec.gov/litigation/fairfundlist.htm or by

submitting a written request to Kara M. Washington, United States Securities and Exchange

Commission, 175 West Jackson Boulevard, Suite 900, Chicago, Illinois 60604. The Notice

also advised that all persons desiring to comment on the Plan could submit their comments, in

writing, no later than thirty (30) days from the date of the Notice. The Commission received

no comments in response to the Notice and issued an order approving the Plan on May 12,

2016.3

The Plan provides for the distribution of the disgorgement, prejudgment interest and

civil penalty paid by the Respondent,4 plus any accumulated interest earned, less a reserve for

taxes and fees and expenses associated with administering the distribution to investors in four

American Express Financial Corporation mutual funds and variable annuity products

according to the methodology set forth in the Plan. The Plan seeks to distribute to

accountholders compensation for estimated dilution losses they may have suffered as a result

of market timing and late trading during the period spanning January 1, 2002 through

September 30, 2003, plus foregone interest.

The Fund Administrator has submitted to the Commission staff a validated list of

495,176 payees and payment amounts determined pursuant to the Plan. Commission staff has

reviewed the validated list and requests that, pursuant to Rule 1101(b)(6) of the Commission’s

1

Exchange Act Rel. No. 77497 (Apr. 1, 2016).

17 C.F.R. § 201.1103.

3

See Order Approving Plan of Distribution, Exchange Act Rel. No. 77816 (May 12, 2016).

4

Capitalized terms used herein but not defined shall have the same meanings ascribed to them in the Plan.

2

Rules,5 the Commission authorize the transfer of $10,726,900.91 from the Fair Fund to The

Huntington National Bank for distribution in accordance with the Plan.

Accordingly, it is ORDERED that the Commission staff shall transfer $10,726,900.91

to the Fair Fund’s Escrow Account at The Huntington National Bank, and the Fund

Administrator shall distribute such monies to investors as provided for in the Plan.

For the Commission, by its Secretary, pursuant to delegated authority.

Vanessa A. Countryman

Acting Secretary

5

17 C.F.R. § 201.1101(b)(6).

2