FINRA Sanctions & Allegations of Misconduct

FINRA suspended Brett David Levinson (CRD#2644880) of Stifel, Nicolaus & Company of San Diego, California, 30 days and fined him $5k for improperly disclosing non-public personal information of multiple customers of his member firm to a third party, and retained non-public personal information of multiple other firm customers after his departure from the firm. 

Brett Levinson has other allegations of wrongdoing reported on his regulatory file

The CRD Report of Brett Levinson includes the disclosure of a customer complaint alleging Levinson made an unsuitable investment recommendation regarding Royalty Energy Income Mutual Fund. These types of complaints are serious red flags that evidence a pattern of unsuitable investment recommendations in order to generate commissions and income for themselves, at the expense of their clients.

Levinson was also sued by his former firm, Hilltop Securities, in Case #1502863. In that case, the Panel ordered Levinson to pay $35k in compensatory damages, $65k in punitive damages, $60k in attorneys fees, $30k in costs, and interest. The Panel made a finding that Levinson was guilty of oppression, fraud, or malice, pursuant to Cal. Civ. Code. Sec. 3294.

Investors Have the Right to Recover Their Losses

When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered losses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages.

Can I recover my investment losses?

If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Brett Levinson, Stifel Nicolaus or Hilltop Securities Inc., please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies, and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.