FINRA Bars Fired Stifel Broker
The Financial Industry Regulatory Authority (FINRA) announced that it has permanently barred former Stifel Nicolaus (SF) stockbroker Steven Dale Rodemer. The brokerage firm fired Rodemer earlier this year following allegations that he took funds from one client’s account without authorization.
Even with COVID-19 disrupting every aspect of our lives, the self-regulatory organization (SRO) continues to issue disciplinary actions against brokers accused of misconduct. Here, at Shepherd Smith Edwards and Kantas (SSEK Law Firm), our broker fraud attorneys also remain hard at work going after the stockbrokers and their firms whose fraudulent or negligent actions contributed to unnecessary investor losses.
Contact SSEK Law Firm today. We work with investors all over the United States even as we maintain the necessary social distancing and other safety and health guidelines necessary to defeat this pandemic.
Steven Rodemer Refused to Testify in FINRA Probe
According to his BrokerCheck record, Rodemer worked in the industry for 43 years. Aside from eight years at Stifel Nicolaus, he previously was a registered representative at several other broker-dealers, including:
- Sanders Morris Harris
- Cascade Investment Group
- Salomon Smith Barney
- Lehman Brothers
- EF Hutton & Co., and three other firms.
There is a previous customer dispute listed on his record from the 1980s in which Rodemer was accused of breach of fiduciary duty. That broker fraud case was settled for $17K.
In this latest claim, which led to his firing from the broker-dealer, Stifel Nicolaus over the allegedly unauthorized withdrawal allegations, Rodemer initially was cooperating with SRO’s probe into the matter but then decided to stop.
His decision not to cooperate violates FINRA rule 8210 related to testimony and cooperation and FINRA rule 2010, which mandates that brokers and their broker-dealers maintain high standards of honor while exercising just and equitable principles when trading is involved.
FINRA barred Steven Rodemer following his refusal to cooperate. He agreed to the sanctions but did not deny or admit to the findings.
Consult Our Brokerage Firm Negligence Lawyers
SSEK Law Firm is committed to helping investors who have suffered broker fraud-related losses in pursuing the financial recovery they are owed from negligent stockbrokers and their brokerage firm, whose inadequate supervision may have enabled misconduct to occur.
If you suffered losses while ex-Stifel broker Steven Rodemer or any other Stifel Nicolaus financial representative worked with you, contact us today.