Todd Peter Arnoldussen (CRD #1929970) Has a Regulatory Action Disclosure on FINRA BrokerCheck

Todd Peter Arnoldussen (CRD #1929970) was previously registered as a broker. We reviewed his FINRA BrokerCheck report on March 6, 2026. It reflects one regulatory action disclosure. If you invested with Todd Arnoldussen and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Action(s)

Todd Arnoldussen’s FINRA BrokerCheck Report reflects one regulatory action disclosure. A summary of the disclosure is below:

On February 2, 2026, FINRA reported a final regulatory action against Todd Arnoldussen. FINRA says he caused Stifel, Nicolaus & Company, Incorporated to make and preserve inaccurate books and records by marking recommended trades as unsolicited. The related AWC states that between January 2022 and August 2023, he mismarked 1,399 order tickets for transactions he recommended to customers. FINRA imposed a $10,000 fine and a two-month suspension in all capacities from March 2, 2026, through May 1, 2026. You can review the AWC here: AWC link

Rule Summary #1: FINRA Rule 4511 (General Requirements)

FINRA Rule 4511 requires firms to make and preserve accurate books and records. When trade tickets are marked the wrong way, the records may not reflect how the recommendation happened.

Rule Summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 requires brokers and firms to observe high standards of commercial honor. FINRA often pairs this rule with recordkeeping violations when the conduct undermines fair dealing and accurate supervision.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Todd Arnoldussen:

Is not currently registered as a broker.

Has passed the Securities Industry Essentials (SIE) exam. Todd Arnoldussen has also passed Series 7, Series 65, and Series 63.

Was previously registered with firms that include Stifel, Nicolaus & Company, Incorporated, Everen Securities, Inc., and Blunt Ellis & Loewi Incorporated.

Kurta Law Can Help

If you have worked with Todd Arnoldussen and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. A securities attorney can help you assess potential causes of action and determine whether your losses may be recoverable through FINRA arbitration or other avenues. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Security Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.