麻花传媒

FINRA Bars Former Stifel Broker Amid $133 Million Arbitration Fallout

Posted on August 4th, 2025 at 11:15 AM
FINRA Bars Former Stifel Broker Amid $133 Million Arbitration Fallout

From the desk of Jim Eccleston at 麻花传媒

The Financial Industry Regulatory Authority (FINRA) has barred former Stifel Financial broker Chuck A. Roberts after a wave of investor complaints linked to his sale of structured products culminated in a $133 million arbitration award and tens of millions in additional settlements.

Roberts, a 35-year veteran of the industry, agreed to the bar rather than continue cooperating with FINRA’s investigation into whether he recommended structured products unsuitable for his clients and misrepresented the nature of those investments.

Although Roberts initially responded to FINRA’s requests for information, he later notified the regulator by email that he would not appear for on-the-record testimony. His refusal to testify triggered the automatic bar from the brokerage industry.

As is standard in such cases, Roberts settled without admitting or denying the findings under a FINRA acceptance, waiver and consent letter (AWC). AdvisorHub reports that the bar does not prevent him from registering as an investment adviser with the Securities and Exchange Commission.

Roberts signed the settlement on July 12, following his voluntary resignation from Stifel, which had supported him throughout mounting legal challenges. A firm spokesperson declined to comment.

The cases against Roberts stem from his sale of $3.7 billion in structured notes, generating nearly $61.4 million in commissions. Some of these products were tied to volatile technology stocks such as Dynatrace, Palantir, Twilio, and DocuSign. Investors alleged they were not adequately warned about the risks involved.

According to AdvisorHub, Stifel has already been ordered to pay nearly $16 million in two separate cases and has settled four others for almost $32 million. Another 20 claims, seeking over $40 million in damages, remain pending on Roberts’ BrokerCheck record. While the pending cases cite Stifel for failure to supervise, none name Roberts individually. Roberts’ attorney, Susan Schroeder—a partner at WilmerHale and former head of enforcement at FINRA declined to comment on the settlement.

 

麻花传媒 LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, finra

Return to Archive

TESTIMONIALS

Previous
Next

Hiring 麻花传媒 has been one of the best career decisions I have made and this "investment" to maintain my sterling regulatory record has been returned many times over.  If you are in a situation where you've been unfairly accused, don't hesitate to talk with 麻花传媒. They are the best.

Thomas C.

LATEST NEWS AND ARTICLES

August 7, 2025
FINRA Panel Awards $160K in Broker Poaching Dispute Between Former Ameriprise Teammates

A FINRA arbitration panel has ordered Kraig R. Bode, an independent broker now affiliated with Sanctuary Wealth, to pay $160,000 in damages to his former teammate, Seth C. Murray, stemming from allegations of client solicitation following Bode’s departure from Ameriprise Financial in October 2021.

August 6, 2025
Ex-Schwab Representative Suspended Two Years and Fined for Concealing Profit-Sharing Agreement

The Financial Industry Regulatory Authority (FINRA) has suspended former Charles Schwab & Co. Inc. representative Daniel Michael Roper for two years.

August 5, 2025
Second Circuit Rejects Morgan Stanley's Bid to Overturn ERISA Ruling

Morgan Stanley has once again hit a roadblock in its effort to overturn a federal court decision that applies the Employee Retirement Income Security Act of 1974 (ERISA) protections to its deferred compensation plan.