Stifel, Nicolaus & Company, Incorporated has agreed to pay a fine of $ 175,000 for alleged violations of the Rules for the Financial Authority of the Financial Industry (Finra).
Between January 2020 and December 2023, Stifel violated Article 606 (a) NMS regulations in accordance with the 1934 mobile exchange law and the FINRA 2010 rule, publishing quarterly reports on the handling of customers’ provisions in the National Market System (NMS) which were inaccurate or incomplete.
In addition, since January 2020 and April 2025, the company’s supervisory system, including WROPS (WSPS), was not reasonably designed to achieve compliance with Rule 606 (A) and therefore the company violated the FINRA 3110 and 2010 rules.
In addition to a fine of $ 175,000, the company agreed to an accusation.
Stifel has been a member of Finra since October 1936. The company is headquartered at St. Louis of Missouri. Stifel is a full -service company with approximately 5,000 registered representatives and 490 branches.