Illegal Activity
concerning
Blackmail
none
Date
2016-12-06
Document Type
report
Model
gemini-2.0-flash-001
Processed
2026-02-07T18:43
Summary
This document reports on a final judgment against Stifel, Nicolaus & Company, Inc. for violating antifraud provisions of federal securities laws and details the penalties and waivers granted by the SEC. The judgment stems from the sale of synthetic collateralized debt obligations to Wisconsin school districts in 2006.
Metadata
- Subject
- Waived Disqualifying Events
- Sender
- —
- Recipients
- —
- Document ID
- DB-SDNY-0068548, SDNY_GM_00214732
- Date
- 2016-12-06
Illegal Activity
- Severity
- concerning
- Description
- The document describes a judgment against Stifel Nicolaus for violations of antifraud provisions of federal securities laws.
- Categories
- Securities Fraud
- Content Type
- first_hand
Evidence:
- Violations of several antifraud provisions of the federal securities laws in connection with the sale of synthetic collateralized debt obligations ("CDOs") to five Wisconsin school districts in 2006.
Relationships 5
| Entity 1 | Relationship | Entity 2 | Description |
|---|---|---|---|
| Stifel Nicolaus | Legal | U.S. Securities & Exchange Commission | Stifel Nicolaus was involved in a civil lawsuit filed by the SEC. |
| Stifel Nicolaus | Employment | David Noack | David Noack is a former employee of Stifel Nicolaus. |
| Choice Financial Partners, Inc. | Affiliate | Stifel Affiliates | Choice Financial Partners, Inc. is a Stifel Affiliate. |
| 1919 Investment Counsel, LLC | Affiliate | Stifel Affiliates | 1919 Investment Counsel, LLC is a Stifel Affiliate. |
| Ziegler Capital Management, LLC | Affiliate | Stifel Affiliates | Ziegler Capital Management, LLC is a Stifel Affiliate. |
Notable Quotes 2
On December 6, 2016, a final judgment ("Judgment") was entered against Stifel, Nicolaus & Company, Inc. ("Stifel Nicolaus") by the United States District Court for the Eastern District of Wisconsin (Civil Action No. 2:11-cv-00755) resolving a civil lawsuit filed by the U.S. Securities & Exchange Commission (the "SEC") in 2011 involving violations of several antifraud provisions of the federal securities laws in connection with the sale of synthetic collateralized debt obligations ("CDOs") to five Wisconsin school districts in 2006.
Stifel and David Noack, a former employee, are jointly liable to pay disgorgement and prejudgment interest of $2.44 million. Stifel was also required to pay a civil penalty of $22.5 million. The Judgment also required Stifel to distribute $12.5 million of the ordered disgorgement and civil penalty to the school districts involved in this matter.
Red Flags 1
- Violations of antifraud provisions of federal securities laws.
Financial Information
Amounts:$2.44 million$22.5 million$12.5 million
Transactions:
- Stifel and David Noack are jointly liable to pay disgorgement and prejudgment interest of $2.44 million.
- Stifel was also required to pay a civil penalty of $22.5 million.
- The Judgment also required Stifel to distribute $12.5 million of the ordered disgorgement and civil penalty to the school districts involved in this matter.
Public Knowledge
- Context
- The information is available on the SEC's website.
- Media Worthy
- Yes
- Likely Public
- True
Legal Compliance
- Violations of several antifraud provisions of the federal securities laws in connection with the sale of synthetic collateralized debt obligations ("CDOs") to five Wisconsin school districts in 2006.
- Stifel is required to cease and desist from committing or causing any violations and any future violations of Section 17(a)(2) and 17(aX3) of the Securities Act.
Raw Analysis JSON
click to expand
Themes
Legal matters/litigationFinancial transactions/money flowCompliance issues
People 1
Organizations 8
AGP LPAlpha Group Caudal Paul BarrenSTIFEL, NICOLAUS & COMPANY, INCORPORATEDUnited States District Court for the Eastern District of WisconsinU.S. Securities & Exchange Commission (the "SEC")Choice Financial Partners, Inc.1919 Investment Counsel, LLCZiegler Capital Management, LLC ("Stifel Affiliates")
Locations 2
Eastern District of WisconsinWisconsin
Text Analysis
- Tone
- Informative
- Purpose
- To provide information regarding a final judgment against Stifel Nicolaus and the waivers granted by the SEC.
- Significance
- The document details the consequences of a civil lawsuit against Stifel Nicolaus and the subsequent waivers granted by the SEC, which are important for understanding the company's regulatory standing.
File Info
- File Name
- EFTA01374040.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:43:04.097158
- DOJ Source
- View on DOJ