Finra’s penalty is directed to one of the firm’s advisor embroiled in a total of 20 customer disputes.
The Financial Industry Regulatory Authority (Finra) has ordered Stifel Nicolas & Co to pay US$2.3m to investors linked to structured notes recommended by Miami-based advisor Chuck A. Roberts, according to a letter released by Finra on 8 November. Roberts has been involved in a total of 20 customer disputes since he joined Stifel, Nicolas & Co from Morgan Stanley in 2016, according to BrokerCheck. The sum comprises US$1.9m compensatory damages and US$469,773 attorney’s fees, which