Daniel Ian Stieff, of Westlake Village, California, a stockbroker registered with LPL Financial LLC, has been terminated from employment on November 5, 2015, based upon allegations that he traded mutual funds and short-term unit investment trust products in customer accounts in a manner which raised the company’s concerns for sales practice violations, and violated the policies and procedures of the firm by exercising discretion in customer accounts.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on November 19, 1997, a customer initiated investment related arbitration claim involving Stieff’s conduct was settled for $136,000.00 in damages based upon allegations that Stieff, while associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, made misrepresentations to the customer, churned the customer’s account, and effected unauthorized equity trades.
Subsequently, on June 26, 2007, a customer filed an investment related arbitration claim regarding Stieff’s activities in which the customer requested $85,000.00 in damages based upon allegations that Stieff, while registered with Financial West Group, contributed towards the customer having sustained losses on speculative over-the-counter equity investments.
Stieff has been registered with Wedbush Securities Inc. since December 9, 2015.
Guiliano Law Group
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