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Arbitration loss for Stifel Nicolaus

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Stifel Nicolas suffered an arbitration loss based on its lack of supervision of Jackson Mississippi broker Phillip Lang. ¬†There, the customer asserted the following causes of action: 1) failure to supervise; 2) breach of fiduciary duty; 3) negligence; and 4) unauthorized trading. The causes of action relate to excessive and unauthorized trading of various unspecified securities in Claimant’s accounts.


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