Stifel ordered to pay US$14.2m in Finra arbitration over failure to supervise recommendations of structured note investments.
The Financial Industry Regulatory Authority (Finra) has ordered Stifel, Nicolaus & Co., Inc. to pay over US$14.2 million to Florida investors who suffered losses due to structured note investments recommended by one of the firm’s brokers. Structured notes, while potentially offering attractive returns, can also carry significant risks that may not be immediately apparent to the average investor The Finra arbitration panel ruling, announced by Erez Law, points at the 'critical impor