SEC Announces Fraud Charges Against Stifel Nicolaus Related To Its Marketing And Sale Of Complex Structured Products

The U. S. Securities and Exchange commission (SEC) made an announcement on August 10, 2011 that it had charged Stifel Nicolaus & Company with fraud as it related to the firm’s marketing and sale of complex structured investment products to Wisconsin school districts, according to the SEC News Release. The St. Louis based firm omitted material facts and misrepresented the risks involved with the investments to the school districts according to the SEC complaint, which caused them to believe that the investment had minimal risk and was highly unlikely to result in the catastrophic losses that did indeed occur.

Read the full and complete SEC notice.

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