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Violation Tracker Individual Record

Company: Stifel Nicolaus & Company, Inc.
Current Parent Company: Stifel Financial
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $5,415,381
Year: 2010
Date: November 9, 2010
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The Bureau of Securities signed a final Consent Order that required Stifel Nicolaus & Company, Inc., to repurchase auction-rate securities (ARS) from New Jersey clients to settle allegations that the firm's securities dealers sold ARS without disclosing known risks of the ARS market.
Level of Government: state
Action Type: agency action
Agency: New Jersey Bureau of Securities
Civil or Criminal Case: civil
Facility State: New Jersey
HQ Country of Current Parent: USA
HQ State of Current Parent: Missouri
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: Stifel Nicolaus to Repurchase $5.4 Million in Auction Rate Securities from N.J. Investors, Targeted News Service, November 9, 2010 (via Nexis).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.