Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 28, 2017 indicate that Iowa-based Stifel Nicolaus & Company broker/adviser Donald Stark has been sanctioned by FINRA. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Stark (CRD# 728228).
Donald Stark has spent 36 years in the securities industry and has been registered with Stifel Nicolaus & Company in Waterloo, Iowa since 2009. Previous registrations include UBS Financial Services in Waterloo, Iowa and Piper Jaffray & Company in Waterloo, Iowa. He is a registered broker and investment adviser with 23 US states and territories.
According to his BrokerCheck report, he was recently sanctioned by FINRA and has received one customer complaint.
In June 2017 FINRA sanctioned him following allegations he “exercised discretion in a senior customer’s accounts without the customer’s prior written authorization and his member firm’s written acceptance of the accounts for discretionary trading.” FINRA’s findings state further: “Stark used discretion to purchase preferred stocks on 16 occasions and sell preferred stocks on eight occasions for the customer’s accounts. In early 2015, the customer had verbally authorized Stark to manage his portfolio in accordance with certain general parameters, but never granted that authority in writing, nor did Stark’s firm accept in writing the customer’s accounts for discretionary trading.” He was issued a fine of $5,000 and a suspension of ten business days which will commence on July 3, 2017.
In 1993 a customer alleged Donald Stark, while employed at Piper Jaffray, recommended unsuitable investments. The complaint settled for more than $118,800.
If you or someone you know has a complaint regarding Donald Stark, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.