Stifel, Nicolaus & Co. recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). According to the AWC, Stifel was censured and fined $25,000 for its transgressions. Allegedly, the firm effected 22 customer transactions in a municipal security in an amount lower than the minimum denomination of the issue which were not subject to an exception under the rule. This is against securities rules and regulations. We sue firms such as Stifel, Nicolaus in the FINRA arbitration forum to recover money for investors.
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