National investment loss lawyers KlaymanToskes is investigating broker Bill Darby of Stifel, Nicolaus & Company (CRD #1659917).
According to FINRA BrokerCheck, Bill Darby, a broker with Stifel, Nicolaus & Company, has been hit with a customer complaint which alleged that he moved money without the customers’ consent and set up structures that were counter to their objectives. The customers further alleged that they had an issue with the commissions assessed on bond trades.
Although the complaint was denied by the firm, investors should be aware that the denial of a customer complaint by a brokerage firm does not mean that the complaint does not have merit. Investors may still pursue a FINRA arbitration claim to recover their investment losses by contacting KlaymanToskes.
Investors that suffered losses with broker Bill Darby are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Bill Darby, a broker registered with Stifel, Nicolaus & Company, is involved in an investor dispute, according to his BrokerCheck record accessed on August 16, 2024. Investors claimed on June 30, 2024, that Darby moved money without their consent and set up structures that did not match their goals. They also raised concerns about commissions related to bond trades. The dispute was denied, but it is important to note that firms can deny disputes without an outside review.
In a regulatory action dated December 10, 2019, Darby agreed to an Acceptance, Waiver & Consent agreement, which stated that a hacker, who had gained access to the firm customer’s account, allegedly sent emails to Darby, the customer’s representative, requesting that he effectuate wire transfers totaling $511,870 from the customer’s account to outside bank accounts. As part of the agreement, Darby accepted a $7,500 fine and a 45-day suspension.
According to FINRA’s investigation, Darby was allegedly unaware that an imposter sent the emails. Darby complied with the requests and directed that the wires be transmitted. Darby, on two separate occasions, falsely advised his sales assistant that he had received verbal confirmation for the wire transfers from the customer and the sales assistant entered that false information into the firm’s attestation forms for wire request. The findings also stated that to fund the wire transfer requests Darby executed sales of securities in the customer’s account, in a total amount of $525,896, without the customer’s knowledge or authorization. The firm reportedly reimbursed the customer.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Bill Darby. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encourage to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Bill Darby, or have concerns regarding your investment portfolio at Stifel, Nicolaus & Company, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.