{"id":1374,"date":"2014-01-14T11:36:26","date_gmt":"2014-01-14T11:36:26","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/01\/stifel_nicolaus_century_securi"},"modified":"2022-03-11T08:59:34","modified_gmt":"2022-03-11T14:59:34","slug":"stifel-nicolaus-century-securi","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/stifel-nicolaus-century-securi\/","title":{"rendered":"Stifel, Nicolaus & Century Securities Must Pay More than $1M Over Inverse and Leveraged ETF Sales"},"content":{"rendered":"

\t\t\t\tFinancial Industry Regulatory Authority says that Century Securities Associates, Inc. and Stifel, Nicolaus & Company, Inc. must pay almost $1 million over the sale of inverse and leveraged exchange-traded funds. Stifel Financial Corporation (SF) owns both firms.<\/p>\n

According to the SRO, for more than four years Century and Stifel recommended non-traditional ETFs that were not suitable to customers because a number of its representatives did not fully comprehend the products’ features or the risks involved. The instruments were marketed to retail investors with conservative investment goals. A number of customers ended up holding the investments for long periods and they suffered net losses.<\/p>\n

The regulator says that Century and Stifel failed to set up proper training for their representatives and lacked the reasonable supervisory systems for the sale of these non-traditional ETFs. Instead, the firms oversaw these investments the way they did traditional ETFs. Also, they did not set up a procedure to deal with the risk for the longer-term holding periods involving these complex investments. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Financial Industry Regulatory Authority says that Century Securities Associates, Inc. and Stifel, Nicolaus & Company, Inc. must pay almost $1 million over the sale of inverse and leveraged exchange-traded funds. Stifel Financial Corporation (SF) owns both firms. According to the SRO, for more than four years Century and Stifel recommended non-traditional ETFs that were not […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4023,3752,3747],"tags":[],"class_list":["post-1374","post","type-post","status-publish","format-standard","hentry","category-exchange-traded-funds","category-financial-firms","category-stifel-nicolaus-co-inc"],"yoast_head":"\nStifel, Nicolaus & Century Securities Must Pay More than $1M Over Inverse and Leveraged ETF Sales — Investor Lawyers Blog — January 14, 2014<\/title>\n<meta name=\"description\" content=\"Financial Industry Regulatory Authority says that Century Securities Associates, Inc. and Stifel, Nicolaus & Company, Inc. must pay almost $1 million — January 14, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/stifel-nicolaus-century-securi\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Stifel, Nicolaus & Century Securities Must Pay More than $1M Over Inverse and Leveraged ETF Sales — Investor Lawyers Blog — January 14, 2014\" \/>\n<meta name=\"twitter:description\" content=\"Financial Industry Regulatory Authority says that Century Securities Associates, Inc. and Stifel, Nicolaus & Company, Inc. must pay almost $1 million — January 14, 2014\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Stifel, Nicolaus & Century Securities Must Pay More than $1M Over Inverse and Leveraged ETF Sales — Investor Lawyers Blog — January 14, 2014","description":"Financial Industry Regulatory Authority says that Century Securities Associates, Inc. and Stifel, Nicolaus & Company, Inc. must pay almost $1 million — January 14, 2014","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/stifel-nicolaus-century-securi\/","twitter_card":"summary_large_image","twitter_title":"Stifel, Nicolaus & Century Securities Must Pay More than $1M Over Inverse and Leveraged ETF Sales — Investor Lawyers Blog — January 14, 2014","twitter_description":"Financial Industry Regulatory Authority says that Century Securities Associates, Inc. and Stifel, Nicolaus & Company, Inc. must pay almost $1 million — January 14, 2014","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/stifel-nicolaus-century-securi\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/stifel-nicolaus-century-securi\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Stifel, Nicolaus & Century Securities Must Pay More than $1M Over Inverse and Leveraged ETF Sales","datePublished":"2014-01-14T11:36:26+00:00","dateModified":"2022-03-11T14:59:34+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/stifel-nicolaus-century-securi\/"},"wordCount":460,"articleSection":["Exchange Traded Funds","Financial Firms","Stifel, Nicolaus, & Co. 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