Steven Douglas Schisler, formerly a securities broker with IFS and Sterne Agee, is the subject of investment fraud allegations. If you are a client of Steven Schisler please call 303-300-5022 for a free and confidential consultation with a private attorney.
FINRA, the regulator overseeing securities brokerages, alleges that from April 2009 to October 2020, Steven D. Schisler committed nine separate violations of FINRA and NASD rules as a result of his dealings with two sets of retired customers and his member firm.
Specifically, he is alleged to have committed the following:
(1) made an unsuitable recommendation to two elderly, married customers;
(2) participated, without the approval of his firm, in a private securities transaction with those customers;
(3) willfully failed to timely amend his Uniform Application for Securities Industry Registration or Transfer (Form U4) to disclose a civil complaint and arbitration filed by one of the elderly customers, as well as other reportable events;
(4) entered into a settlement agreement with the customer that contained a prohibited condition — namely, that she would support his request for expungement;
(5) lied under oath at the expungement hearing;
(6) lied during on-the-record testimony to FINRA’s Department of Enforcement;
(7) engaged in a long pattern of unethical business conduct towards another retired customer from whom Schisler solicited a personal loan that he failed to repay for over six and a half years after maturity;
(8) made a false statement on a firm compliance questionnaire; and (9) caused his fn-m to fail to preserve books and records by using outside, unmonitored email accounts to conduct securities business.