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
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
Resolutions
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:
