Former Chicago-based Stifel Nicolaus Broker Under Investigation After Permanent FINRA Bar

Silver Law Group is investigating former Stifel, Nicolaus & Company, Incorporated (CRD# 793) broker Assan Faal (CRD#  5863258) after FINRA permanently barred him.

According to Faal’s FINRA BrokerCheck report, FINRA permanently barred Faal from acting as a broker or otherwise associating with firms that sell securities in June 2016 after he failed to respond to a FINRA request for information.

Faal currently has one other disclosure on his FINRA BrokerCheck report.  The disclosure is a FINRA arbitration filed in April 2016 alleging misappropriation and $33,000 in damages.

According to FINRA, misappropriation violations are some of the top rule violations the regulatory body encounters.  Financial advisors have great access to customers and their funds, and a financial advisor may try to take advantage of that relationship.

Stifel employed Faal from July 2015 to October 2015.  Prior to Faal’s time with Stifel, Sterne, Agee & Leach, Inc. (CRD# 791) employed him from April 2014 to July 2015.  Faal was employed by National Securities Corporation (CRD# 7569) from August 2011 to April 2013 prior to Stern Agee.

FINRA arbitration is a fast, efficient way to try to recover your lost investment funds due to excessive trading or misappropriation.  We work on a contingency fee basis, meaning you pay us nothing unless we win and recover money for you.

If you have invested with Assan Faal and Stifel, Niclaus & Company and have lost money doing so, you may be able to recover some or all of your losses.  Our lawyers are experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.

Silver Law Group represents the interests of investors who have been the victims of investment fraud.  If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.