Stifel Nicolaus Stockbroker Barred In Theft Investigation
Steven Dale Rodemer of Pueblo Colorado a stockbroker formerly registered with Stifel Nicolaus Company Incorporated has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA while he was the subject of an investigation into allegations of his misuse of customer funds during the time that he was associated with Stifel Nicolaus. Letter of Acceptance Waiver and Consent No. 2020065336501 (Mar 26. 2020).
According to the AWC, an investigation commenced by FINRA following its receipt of information from Stifel Nicolaus indicating that Rodemer was terminated for cause. On January 6, 2020, he was discharged based upon allegations of his unauthorized use of money belonging to a customer of Stifel Nicolaus. FINRA stated that by March 20, 2020, the stockbroker stopped cooperating in the investigation. Rodemer neglected to make an appearance and testify as to the allegations of his possible misappropriation of customer funds. FINRA determined that the stockbroker’s conduct was violative of FINRA Rules 2010 and 8210.
FINRA Public Disclosure reveals that a customer initiated investment related civil action brought in Peublo County Colorado State Court which involved Rodemer’s conduct was settled for $17,000.00 in damages based upon allegations of Rodemer having breached a fiduciary duty to the Shearson Lehman Brothers customer in regard to over-the-counter equities transactions effected in the customer’s account.
Rodemer was registered with Stifel Nicolaus between November 10, 2011 and January 21, 2020.