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 embroiled with a total of 20 customer disputes since he joined Stifel, Nicolas & Co from Morgan Stanley in 2016, according to BrokerCheck. The employee-advisory arm of Stifel Financial has been ordered to pay US$2.3m to invest
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