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:
34-101144
Document Details
Legal Case Name
In the Matter of Stifel, Nicolaus & Company, Inc.
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
24-Sep-2024
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On September 24, 2024, the SEC instituted settled administrative and cease-and-desist proceedings against Stifel, Nicolaus & Company, Inc., stating: "These proceedings arise out of the widespread and longstanding failure of Stifel’s personnel, including at senior levels, to adhere to certain of these essential requirements and Stifel’s own policies and procedures. Using their personal devices, these personnel communicated both internally and externally by text messages and/or other unapproved written communications platforms, such as WhatsApp (“off-channel communications”)."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Compliance Related Independent Consultant
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$35,000,000.00
Shared:
