CONCORD, N.H. --New Hampshire regulators are accusing Ameriprise Financial Services of breaking state security laws, forging and tampering with documents and limiting oversight by regulators.

The state Bureau of Securities Regulation says Ameriprise could face penalties and client restitution of up to $10 million.

In 2005 the company -- then known as American Express Financial Advisors -- settled with the state for $7.4 million on charges related to illegal incentives, conflicts of interest and lack of disclosure to clients. The 2005 settlement included heightened supervision by the state and by an independent consultant.

That oversight led to the new charges, said Mark Connolly, the bureau director.

"We have found that the company's financial advisors were incentivized and pressured to sell plans to each other and family members so as to give the appearance of increased sales, as well as forging clients signatures on certain forms to make their sales numbers look higher," Connolly said in a statement

The 2005 settlement was the largest securities enforcement action in state history.

The publicly traded company is based in Minneapolis. It has about 30 branches in New Hampshire.

Company officials were not immediately available for comment. 

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