Chuck Roberts Barred by FINRA Following Multimillion-Dollar Settlements

Chuck Roberts (CRD #: 2064602), a broker formerly registered with Stifel, Nicolaus & Company, allegedly violated state and federal laws, according to his BrokerCheck record, accessed on August 11, 2025. If you have questions about his alleged conduct as a broker, read on.

Bar by FINRA

On July 16, 2025, Chuck Roberts consented to the entry of findings that he allegedly refused to appear for on-the-record testimony requested as part of a FINRA investigation.

According to a Letter of Acceptance, Waiver & Consent (AWC), this investigation allegedly concerned customer arbitrations filed against Stifel, Nicolaus & Company which alleged that Chuck Roberts inaccurately described structured products and/or made recommendations of these products that were not in investors’ best interests.

The AWC concluded that the alleged refusal to appear for testimony constituted a violation of FINRA Rules 8210 and 2010.

FINRA Rule 8210

FINRA Rule 8210 requires members to provide documents, information, and testimony upon request by FINRA.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

Chuck Roberts was permanently barred by FINRA on July 16, 2025. You can read a copy of the AWC here.

Investor Disputes

Twenty-one pending disputes, filed from 2023-2025, collectively allege that Chuck Roberts engaged in misconduct, including the following:

• Fraud
• Breach of contract
• Negligence
• Violations of federal securities laws, including Regulation Best Interest and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 
• State securities laws, including the Florida Securities and Investor Protection Act and the New Jersey Uniform Securities Law

Investors seek $39,905,000 in damages.

Three disputes, filed from October 2022 to July 2023, made similar allegations and were settled for a total of $31.5 million.

On May 12, 2023, multiple investors filed a dispute alleging that Chuck Roberts engaged in fraud and negligence, breached his contract, and violated the Florida Securities and Investor Protection Act. They sought $5 million in damages and received a settlement of $132,521,463.75.

On May 10, 2023, multiple investors filed a dispute alleging Chuck Roberts breached his contract and engaged in fraud, negligence, and violations of the Florida Securities and Investor Protection Act and the Employee Retirement Income Security Act (ERISA). The dispute was settled for $2,581,200.91.

A dispute filed on May 9, 2023, named Chuck Roberts in allegations of fraud, negligence and negligent supervision, breach of contract, and violation of the Florida Securities and Investor Protection Act in connection with investments in structured notes.

Claimants received a settlement of $13,065,436 in damages, as well as additional payment for attorneys’ fees, interest, and other costs. You can read the arbitration award here.

A dispute filed on June 4, 2025, alleged that Chuck Roberts made an unsuitable recommendation of limited partnership interests in private placements, and that this recommendation violated Regulation Best Interest. The client sought $110,000 but the dispute was denied by the firm.

On April 11, 2023, an investor alleged that Chuck Roberts misled him with regard to the risks and characteristics of certain investments. The firm denied the dispute.

On October 24, 2023, multiple investors alleged that Chuck Roberts failed to discuss the risk profile of their investments and made these investments without authorization. They sought $150,000 in damages but the dispute was denied.

However, investors should be aware that firms can deny disputes without an outside review. Investors can still pursue FINRA arbitration and potentially recoup their losses following a denial.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulative, deceptive, or otherwise fraudulent means of influencing investors’ decisions. Misrepresenting or omitting material facts related to an investment’s risks or features violates this rule.

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Securities Exchange Act of 1934

Section 10(b) of the Securities Exchange Act of 1934 prohibits the use of deceptive, manipulative, and otherwise fraudulent practices relating to the purchase and sale of securities. Within this section, Rule 10b-5 prohibits fraudulent schemes, as well as untrue statements and misleading omissions of fact.

Section 20(a) states that every person controlling a person accused of violations is also liable for their violations. In other words, if a supervisor fails to detect and prevent another broker’s violations of securities regulations, they can also be considered responsible.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish supervisory systems to ensure their compliance with securities regulations. Firms must appoint supervisors and provide them with Written Supervisory Procedures (WSPs) to follow.

FINRA Rule 3260

Unauthorized trading violates FINRA Rule 3260, which limits brokers to exercising their trading discretion in pre-approved discretionary accounts.

What is Broker Negligence?

Brokers may act in many negligent ways, ranging from making unsuitable investment recommendations to engaging in excessive or unauthorized trading.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by seeking out FINRA arbitration. 

What are Blue Sky Laws?

Blue sky laws are state-level regulations that provide investors with an additional layer of protection against securities fraud. They typically also define which types of investments must register with the state securities board.

Background Information

Chuck Roberts has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 31 – Futures Managed Funds Examination
• Series 7 – General Securities Representative Examination

He previously worked for the following firms:

• Stifel, Nicolaus & Company (CRD#:793)
• Morgan Stanley (CRD#:149777)
• Citigroup Global Markets (CRD#:7059)
• Oppenheimer & Company (CRD#:249)
• CIBC World Markets Corporation (CRD#:630)
• M. J. Whitman (CRD#:27870)
• PaineWebber (CRD#:8174)
• Lehman Brothers (CRD#:7506)

Kurta Law Can Help

If you worked with Chuck Roberts and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.