Defendant Name: Stifel, Nicolaus & Company, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Stifel Financial Corp.
SIC Code: 6211
CUSIP: 86063010

Document Reference: IA-4665

Document Details

Legal Case Name In the Matter of Stifel, Nicolaus & Company, Incorporated
Document Name Order Instituting Cease-and-Desist Proceedings Pursuant to Section 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing a Cease-and-Desist Order
Document Date 13-Mar-2017
Document Format Administrative Proceeding
File Number 3-17879
Allegation Type Investment Advisers/Investment Companies
Document Summary On March 13, 2017, the SEC instituted a settled proceeding against Stifel, Nicolaus & Company, Incorporated. According to the SEC: " "[t]his matter arises from Stifel's failure to adopt and implement adequate policies and procedures to track and disclose trading away practices by certain of the sub-advisers participating in Stifel's wrap fee programs. [...] By failing to adopt and implement such policies and procedures, Stifel violated Section 206(4) of the Advisers Act and Rule 206(4)-7 thereunder."

Disgorgement & Penalty Information

Cease and Desist Order
Other Compliance Related Undertaking
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:

Civil Penalty

Individual:     $300,000.00 Shared: