Articles Tagged with Stifel Nicolaus & Company

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Stifel Nicolaus & Company

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on October 4, 2018 indicate that Missouri-based broker-dealer firm Stifel Nicolaus & Company was recently sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints Stifel Nicolaus & Company (CRD# 793).

Established in Missouri in 1900, Stifel Niclaus & Company is headquartered in St. Louis, Missouri and registered with 53 US states and territories. According to its BrokerCheck report, it has been involved in 128 regulatory events and 48 customer complaints that evolved into arbitration.

In September 2018 FINRA sanctioned the firm in connection to allegations it “accepted and held customer orders in over-the-counter (OTC) securities… for its own account and prices that would have satisfied the customer orders, and failed to execute or immediately execute the customer orders up to the size and at the same price at which it traded for its own account or at a better price.” FINRA’s findings state additionally that as many as 45,024 of the firm’s order audit trail system (OATS) reports were inaccurate, in that they contained an “inaccurate information barrier identifier.” FINRA alleged further that the firm’s supervisory system failed to provide for supervision that was not reasonably designed to achieve compliance with relevant securities laws and regulations. The firm was censured, issued a fine of $37,500, and ordered to pay restitution to affected customers.

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Robert ClearyPublic records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on July 24, 2018 indicate that New York-based Stifel Nicolaus & Company broker Robert Cleary has been involved in resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Cleary (CRD# 1505792).

Robert Cleary has spent 32 years in the securities industry and has been registered with Stifel Nicolaus & Company in New York, New York since 2007. Previous registrations include Ryan Beck & Company in New York, New York (2002-2007); Gruntal & Company in New York, New York (1993-2002); and Lehman Brothers in New York, New York (1986-1993). He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on July 31, 1986, and Series 7 (General Securities Representative Examination), which he obtained on July 19, 1986. He is a registered broker with 25 US states and territories: Arizona, Arkansas, California, Colorado, Connecticut, Illinois, Iowa, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, Texas, Utah, Virginia and Wisconsin.

According to his BrokerCheck report, he has received one customer complaint and one pending customer complaint.

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Patrick DeverPublic records provided by the Financial Industry Regulatory Authority (FINRA) on July 17, 2018 indicate that Pennsylvania-based Stifel Nicolaus & Company broker/adviser Patrick Dever has received resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Dever (CRD# 2202204).

Patrick Dever has spent 26 years in the securities industry and has been registered with Stifel Nicolaus & Company in West Chester, Pennsylvania since 2014. Previous registrations include Morgan Stanley in West Chester, Pennsylvania (2009-2014); Morgan Stanley & Company in West Chester, Pennsylvania (2007-2009); Morgan Stanley DW in West Chester, Pennsylvania (2006-2007); Citigroup Global Markets in Media, Pennsylvania (1993-2006); and Lehman Brothers in New York, New York (1992-1993). He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on July 22, 1992; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on February 6, 1992; and Series 7 (General Securities Representative Examination), which he obtained on January 22, 1992. He is a registered broker and investment adviser with seven US states and territories: Delaware, Maryland, New Jersey, New York, Pennsylvania, Virginia, and West Virginia. He is registered with six self-regulatory organizations (SROs): Cboe BZX Exchange, FINRA, NYSE American LLC, Nasdaq PHLX LLC, the Nasdaq Stock Market, and the New York Stock Exchange.

According to his BrokerCheck report, he has received one customer complaint and one pending customer complaint.

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Stephen HurtukPublicly available records published by the Financial Industry Regulatory Authority (FINRA) on July 17, 2018 indicate that former Ohio-based Stifel Nicolaus & Company broker/adviser Stephen Hurtuk has received resolved or pending customer disputes and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Hurtuk (CRD# 848484).

Stephen Hurtuk has spent 39 years in the securities industry and was most recently registered with Stifel Nicolaus in Boardman, Ohio (2007-2017). Previous registrations include Citigroup Global Markets in Canfield, Ohio (2001-2007) and Merrill Lynch in New York, New York (1978-2001). He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on May 4, 1994; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on December 9, 1980; and Series 7 (General Securities Representative Examination), which he obtained on January 21, 1978. He is currently not affiliated with any broker-dealer firm.

According to his BrokerCheck report, he has received three customer complaints and two pending customer complaints.

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John RussellPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on June 25, 2018 indicate that Missouri-based Stifel Nicolaus & Company broker/adviser John Russell has received resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Russell (CRD# 728702).

John Russell has spent 37 years in the securities industry and has been registered with Stifel Nicolaus & Company in Clayton, Missouri since 1988. Previous registrations include The Leaders Group in Littleton, Colorado (1998-2000); Rowland Simons & Company (1988); IM Simon & Company (1986-1988); Thomson McKinnon Securities (1984-1986); and WZW Financial Services (1981-1984). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on August 12, 1999; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on June 17, 1981; Series 7 (General Securities Representative Examination), which he obtained on April 11, 1981; Series 8 (General Securities Sales Supervisor Examination [Options Module & General Module]), which he obtained on November 19, 1980; and Series 24 (General Securities Principal Examination), which he obtained on August 27, 1982. He is a registered broker and investment adviser with 43 US states and territories.

According to his BrokerCheck report, he has received one customer complaint, one pending customer complaint, and one denied customer complaint.

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Mitchell YanowPublic records published by the Financial Industry Regulatory Authority (FINRA) and accessed on June 15, 2018 indicate that former Florida-based Stifel Nicolaus & Company broker/adviser Mitchell Yanow, who has received a customer dispute, was recently discharged from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Yanow (CRD# 2148171).

Mitchell Yanow has spent 26 years in the securities industry and was most recently registered with Stifel Nicolaus & Company in Boca Raton, Florida (2015-2018). Previous registrations include Oppenheimer & Company in Palm Beach Gardens, Florida (2008-2015); Wachovia Securities in Palm Beach Gardens, Florida (2005-2008); UBS Financial Services in Weehawken, New Jersey (2000-2005); JB Hanauer & Company in Parsippany, New Jersey (1992-2000); and Halpert & Company in Millburn, New Jersey (1991-1992). He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on September 20, 1991, and Series 7 (General Securities Representative Examination), which he obtained on September 12, 1991. He is currently not registered with any state or firm.

According to his BrokerCheck report, Mitchell Yanow has received one customer complaint and was recently discharged from his former employer.

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Barry StockerPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on May 2, 2018 indicate that Pennsylvania-based Stifel Nicolaus & Company broker/adviser Barry Stocker has received a customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Stocker (CRD# 4876725).

Barry Stocker has spent 13 years in the securities industry and has been registered with Stifel Nicolaus & Company in Bethlehem Township, Pennsylvania since 2012. Previous registrations include Morgan Stanley in Easton, Pennsylvania (2009-2012) and Citigroup Global Markets in Allentown, Pennsylvania (2005-2009). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on January 12, 2005; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on December 28, 2004; Series 7 (General Securities Representative Examination), which he obtained on December 17, 2004; Series 10 (General Securities Sales Supervisor – General Module Examination), which he obtained on April 9, 2014; and Series 9 (General Securities Sales Supervisor – Options Module Examination), which he obtained on September 20, 2013. He is a registered broker and investment adviser with eight US states: California, Florida, Minnesota, New Jersey, New York, North Carolina, Pennsylvania, and Virginia. He is registered wth six self-regulatory organizations (SROs): CBOE BZX Exchange, FINRA, NYSE American LLC, Nasdaq PHLX LLC, the Nasdaq Stock Market, and the New York Stock Exchange.

According to his BrokerCheck report, he has received one customer complaint.

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Todd NiedermeyerPublic records published by the Financial Industry Regulatory Authority (FINRA) and accessed on March 19, 2018 indicate that California-based Stifel Nicolaus & Company broker/adviser Todd Niedermeyer has received customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Niedermeyer (CRD# 1732585).

Todd Niedermeyer has spent 30 years in the securities industry and has been registered with Stifel Nicolaus & Company in San Francisco, California since 2011. Previous registrations include Wells Fargo Investments in San Francisco, California (2001-2008); Wells Fargo Securities in San Francisco, California (2000-2002); Black & Company in Portland, Oregon (1997-2000); Painewebber in Weehawken, New Jersey (1995-1997); Kidder Peabody & Company in New York, New York (1994-1995); Lehman Brothers in New York, New York (1989-1994); and Kidder Peabody & Company (1987-1989). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on November 17, 2001; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on October 21, 1987; Series 7 (General Securities Representative Examination), which he obtained on September 19, 1987; and Series 24 (General Securities Principal Examination), which he obtained on March 16, 1999. He is a registered broker and investment adviser with 25 US states and territories.

According to his BrokerCheck report, he has received two customer complaints and four customer complaints that were closed, denied or withdrawn.

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Stifel Nicolaus & CompanyPublic records published by the Financial Industry Regulatory Authority (FINRA) and accessed on February 15, 2017 indicate that Missouri-based broker-dealer Stifel Nicolaus & Company has been sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Stifel Nicolaus & Company (CRD# 739).

According to the firm’s BrokerCheck report, FINRA sanctioned the firm in connection to findings that in 18 occasions between April and June 2014, the firm “accepted and held 12 customer orders in over-the-counter (OTC) securities, traded for its own account at prices that would have satisfied the customer orders,” and subsequently failed to enter or to immediately enter the clients’ orders “up to the size and at the same price at which it traded for its own account or at a better price.”

FINRA’s findings state that the firm asserted its “no-knowledge exception” in connection to 16 of the 18 instances, and that its internal controls failed to meet certain FINRA requirements because traders at one of the firm’s desks were able to view outstanding client orders that were accepted and held by another desk. FINRA also stated that during Q2 and Q4 2014, and during Q1 2015, Stifel Nicolaus & Company’s supervisory system failed to provide for supervision that was reasonably designed to comply with relevant laws and regulations in connection to findings that the firm had no procedures preventing its trading desks that were separated by information barriers “from obtaining knowledge regarding orders or trading activity at other desks.” The firm’s written supervisory procedures allegedly did not include a review that ensured the firm’s information barriers operated appropriately and that permissions employees had to firm systems were granted appropriately. The firm also allegedly failed to capture any of the aforementioned instances of trading ahead in its trading exception report, a report that FINRA’s findings stated was flawed and unreliable.