Our firm is investigating former Stifel, Nicolaus & Company broker and financial advisor Chuck A. Roberts (CRD#: 2064602) of Miami, Florida, for alleged investment-related misconduct involving unsuitable recommendations of structured notes and other complex products.
Roberts, who previously worked at major firms such as Morgan Stanley, Citigroup Global Markets, and Oppenheimer, was barred by FINRA in July 2025 after refusing to cooperate with an on-the-record testimony request during an investigation into numerous customer disputes totaling tens of millions of dollars.
Financial Advisor’s Career History
Chuck Roberts entered the securities industry in 1990 and spent over three decades with several major Wall Street firms. His registration history includes:
- Lehman Brothers Inc. (CRD# 7506) – New York, NY (1990–1992)
- Stifel, Nicolaus & Company, Incorporated (CRD# 793) – New York, NY (2016–2025)
- Morgan Stanley (CRD# 149777) – New York, NY (2009–2016)
- Citigroup Global Markets Inc. (CRD# 7059) – New York, NY (2005–2009)
- Oppenheimer & Co. Inc. (CRD# 249) – New York, NY (2003–2005)
- CIBC World Markets Corp. (CRD# 630) – New York, NY (1998–2003)
- M.J. Whitman, Inc. (CRD# 27870) – New York, NY (1995–1998)
- PaineWebber Inc. (CRD# 8174) – Weehawken, NJ (1992–1995)
Chuck A. Roberts Fraud Allegations and Investor Complaints Explained
FINRA Bar (2025)
In July 2025, FINRA permanently barred Roberts from the industry after he refused to appear for on-the-record testimony in connection with an investigation into customer arbitrations alleging his structured product recommendations were not in clients’ best interests and that he misrepresented product risks. The regulatory action (Case No. 2023079140201) resulted in a permanent industry bar under an Acceptance, Waiver, and Consent (AWC) resolution.
Prior FINRA Sanctions (2010)
In 2010, Roberts was censured, fined $40,000, and suspended for four weeks for violating NASD Rules 2110, 2790, and 3110. The findings stated he knew that sales assistants had replaced customer email addresses with their own, which caused trade confirmations to be misdirected, and that he failed to disclose related-party accounts under his management.
State-Level Action – Illinois (2010)
The Illinois Securities Department also initiated a revocation proceeding based on the same conduct, which resulted in a $1,000 fine and dismissal of further sanctions. Roberts agreed to abide by FINRA-imposed IPO trading restrictions.
Customer Disputes
Roberts has been the subject of 36 customer disputes, with at least eight settled and several resulting in multi-million-dollar FINRA arbitration awards. Allegations consistently involved unsuitable recommendations, breach of fiduciary duty, misrepresentation and fraud related to structured notes and alternative investments.
Major Disclosures Include:
- FINRA Arbitration Case #23-01288 (Award, 2024):
Customers alleged breach of fiduciary duty and fraud; Stifel ordered to pay over $14 million, including $9 million in punitive damages, $4 million in compensatory damages, and $1.1 million in attorney’s feeschuck-robert-finra. - Settled Disputes (2022–2025):
- $16,000,000 settlement (FINRA Case #22-02429)
- $13,500,000 settlement (Case #23-01185)
- $10,250,000 settlement (Case #23-03076)
- $2,000,000 settlement (Case #23-02031)
- $1,310,000 settlement (Case #23-03052)chuck-robert-finra.
- Pending Complaints (2025):
At least 20 active disputes remain, with damages alleged between $1 million and $5 million each, primarily involving structured note investmentschuck-robert-finra.
Summary of Disclosures
- Regulatory Events: 3
- Customer Disputes: 36
- Total Settlements & Awards: Exceeding $60 million collectively
The disciplinary record for Chuck A. Roberts reveals a pattern of unsuitable recommendations, misrepresentations, and regulatory violations spanning more than a decade. Investors alleging losses tied to Roberts’ structured note recommendations or other investment strategies may have legal grounds for recovery through FINRA arbitration.
To obtain a copy of Chuck A. Roberts’ FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 8210 – Failure to Cooperate
Roberts’ 2025 permanent bar was issued under FINRA Rule 8210, which authorizes the regulator to compel brokers to provide testimony and documents. His refusal to appear constituted a violation of Rule 8210 and Rule 2010, resulting in the most severe industry sanction—a permanent bar.
FINRA Rule 2110 – Standards of Commercial Honor
The 2010 suspension involved breaches of Rule 2110, which requires members to observe high standards of commercial honor and just principles of trade. Roberts’ conduct—allowing falsified customer contact records—demonstrated a failure to uphold basic ethical obligations in client communications.
NASD Rule 3110 – Supervision & Recordkeeping
Roberts was also found to have caused his firm’s violation of SEC Rule 17a-3 and NASD Rule 3110, which require accurate books and records of customer accounts. The manipulation of client emails and failure to disclose related accounts reflect deficient supervisory practices and inadequate compliance oversight.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide. Call (800) 732-2889 or email Attorney Pearce for a free case review with an experienced securities attorney.
Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.
