Investor Alert! The Financial Industry Regulatory Authority (“FINRA”) indefinitely barred securities broker Steven Dale Rodemer (CRD#: 830561, Pueblo, Colorado). Notably, the former Stifel Nicolaus securities broker is no longer allowed to associate with FINRA member brokerage firms after refusing to give information to FINRA as part of an investigation. Here’s more:
Evidently, FINRA and Steven Rodemer entered into a Letter of Acceptance, Waiver and Consent on March 26, 2020 to resolve allegations of Rodemer violating FINRA Rule 8210.
Apparently, FINRA investigated why Stifel Nicolaus disaffiliated with Rodemer in January 2020. It appears that Stifel Nicolaus mentioned to FINRA when it reported Rodemer’s termination that he took money from a client’s account for his use without the client’s authorization.
Evidently, FINRA told Rodemer to testify about the grounds for his dismissal and his possible misuse of client money. However, Rodemer’s attorney told FINRA in March 2020 that Rodemer would not appear at any time for on-the-record testimony. Ultimately, Rodemer accepted the sanction of a bar for his refusal to speak with FINRA in the investigation.
Evidently, Steven Rodemer used to work for Lehman Brothers. Apparently, a client of the securities firm contested his sales practices. The client indicated that Rodemer breached his fiduciary responsibility. It is possible that Rodemer failed to place the client’s interests first when making stock trades. He could have sold the client unsuitable investments too. In either event, Lehman settled this matter by paying the client $17,000.
Have you experienced losses by investing with Steven Rodemer? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities firms and brokers like Rodemer.
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