Stifel Nicolaus/Century Securities Fined Over ETF Sales

In January 2014, to resolve FINRA allegations that they had sold leveraged and inverse exchange traded funds (ETFs) to customers for whom the investments were unsuitable, Stifel Nicolaus & Co. and its subsidiary Century Securities, Inc. agreed to pay more than $1 million in fines and restitution.

Stifel sold about $641 million in nontraditional ETFs to retail investors from 2009 to 2013. Century sold about $31 million according to FINRA.

Leveraged and inverse ETFs are volatile and generally are not suitable for conservative investors.

If you have questions about your brokerage account, call to speak with an experienced securities attorney .

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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