Former Stifel, Ncolaus & Company Broker, Steven Rodemer, Barred By FINRA For Refusing To Cooperate With FINRA In Its Investigation That He Misappropriated Client Funds For Personal Use
Steven Dale Rodemer (CRD # 830561) was a Financial Advisor at Stifel, Nicolaus & Company, Incorporated in Pueblo, CO. Steven Rodemer has been in the securities industry since 1976 and previously worked for a number of brokerage firms, including Sanders Morris Harris Inc., Cascade Investment Group, Inc. and Salomon Smith Barney Inc.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on March 26, 2020, FINRA barred Steven Rodemer indefinitely from acting as a broker or associating with any brokerage firm for refusing to provide on-the-record testimony requested by FINRA during its investigation into the conduct disclosed in a Form U5 submitted by his member firm. The findings stated that “the firm submitted the Form U5 terminating Rodemer for taking money from a client account for his personal use without authorization.”
For a copy of the FINRA Sanction, click https://www.finra.org/sites/default/files/fda_documents/2020065336501%20Steven%20D.%20Rodemer%20CRD%20830561%20AWC%20sl.pdf
Steven Rodemer was “discharged” from Stifel, Nicolaus & Company in January 2020 relating to these allegations. In addition, Steven Rodemer was the subject of an October 1984 customer complaint alleging breach of fiduciary duty. The matter settled for $17,000.
For a copy of Steven Rodemer’s CRD, click https://brokercheck.finra.org/individual/summary/830561#disclosuresSection
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
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