DAVID WELLS KNALL is currently employed as a Broker and/or Investment Adviser at STIFEL, NICOLAUS & COMPANY, INCORPORATED located at 600 EAST 96TH STREET, SUITE 575, INDIANAPOLIS, IN, 46240.
DAVID WELLS KNALL has worked at STIFEL, NICOLAUS & COMPANY, INCORPORATED since April 05, 2005
DAVID WELLS KNALL has 5 Disclosure Event(s).
Date: July 02, 2009 Category: Regulatory Initiated By: FLORIDA OFFICE OF FINANCIAL REGULATION Allegations: HAS BEEN THE SUBJECT OF A STATE OR FEDERAL AGENCY ADMINISTRATIVE ORDER INVOLVING VIOLATION OF ANY FEDERAL OR STATE SECURITIES LAW. Resolution: Stipulation and Consent Sanctions: ASSOCIATED PERSON REQUIRED TO BE PLACE ON HEIGHTENED SUPERVISION WITH EMPLOYING BROKER DEALER.
Date: February 27, 2008 Category: Regulatory Initiated By: WISCONSIN Allegations: HE IS A LICENSED SECURITIES AGENT WITH INDIANAPOLIS, IN AS HIS PRINCIPAL PLACE OF BUSINESS. ON 12/3/07, THE SEC FILED A COMPLAINT IN THE US DISTRICT COURT OF INDIANA AGAINST HIM FOR USING INSIDER INFROMATION IN TRADING SECURITIES TO AVOID PERSONAL LOSSES. HE CONSENTED TO THE ENTRY OF AN ORDER IN A PUBLIC ADMIN. PROCEEDING AND WAS SUSPENDED FROM ASSOC. WITH ANY BROKER, DEALER OR INVESTMENT ADVISER FOR 1 YEAR STARTING 12/27/07. BEING THE SUBJECT OF AN ACTION BY THE SEC IS GROUNDS FOR ACTION AGAINST AN AGENTS LICENSE IN WI UNDER S.551.34(1)(F)AND INSIDER TRADING IS A DISHONEST OR UNETHICAL BUSINESS PRACTICE THAT CREATES GROUNDS UNDER S.551.34(1)(G). Resolution: Order SanctionDetails: Sanctions: Suspension SanctionDetails:Registration Capacities Affected: HE WITHDREW HIS WI U5 REGISTRATION AS OF 3/25/2008 Duration: WOULD HAVE BEEN ONE YEAR AS OF DEC. 27, 2007 Start Date: 12/27/2007 End Date: 12/27/2008 Broker Comment: SUSPENSION OF SECURITIES AGENT LICENSE FOR TWELVE MONTHS IN RESPONSE TO SEC CONSENT ORDER SUSPENDING HIS LICENSE AND PERMANENTLY ENJOINING HIM FROM INSIDER TRADING.
Date: February 19, 2008 Category: Regulatory Initiated By: MARYLAND DIVISION OF SECURITIES Allegations: A FINAL JUDGMENT WAS ENTERED BY CONSENT AGAINST KNALL, PERMANENTLY ENJOINING HIM FROM FUTURE VIOLATIONS OF VARIOUS EXCHANGE ACT RULES. HE IS SUSPENDED FROM ASSOCIATION WITH ANY BROKER, DEALER, OR INVESTMENT ADVISER FOR A PERIOD OF 12 MONTHS. Resolution: Order SanctionDetails: Sanctions: Revocation/Expulsion/Denial Sanction Details: AN ORDER TO SHOW CAUSE WAS ISSUED BY THE COMMISSIONER ON FEBRUARY 19, 2008, REQUIRING KNALL TO SHOW CAUSE WHY HIS AGENT REGISTRATION SHOULD NOT BE REVOKED. NO RESPONSE WAS RECEIVED.
Date: December 27, 2007 Category: Regulatory Initiated By: UNITED STATES SECURITIES AND EXCHANGE COMMISSION Allegations: SEC ADMININSTRATIVE RELEASE 34-57055, IA RELEASE 40-2688, DECEMBER 27, 2007; ON DECEMBER 12, 2007, A FINAL JUDGMENT WAS ENTERED BY CONSENT AGAINST KNALL, PERMANENTLY ENJOINING HIM FROM FUTURE VIOLATIONS OF SECTION 14(E) OF THE EXCHANGE ACT AND RULE 14E-3 THEREUNDER, IN THE CIVIL ACTION NUMBER 1:07-CV-1562, IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF INDIANA, INDIANAPOLIS DIVISION. THE COMMISSION'S COMPLAINT ALLEGED THAT KNALL TRADED WHILE IN POSSESSION OF MATERIAL NONPUBLIC INFORMATION RELATING TO A COMPANY'S ("COMPANY") INTENTION TO ACQUIRE ANOTHER COMPANY ("COMPANY #2) VIA A TENDER OFFER. SPECIFICALLY, THE COMPLAINT ALLEGED THAT ON JUNE 12, 2004, KNALL ACQUIRED INFORMATION RELATING TO THE COMPANY'S PROPOSED ACQUISITION OF COMPANY #2. AT THE TIME, THE COMPANY HAD TAKEN SUBSTANTIAL STEPS TO COMMENCE A TENDER OFFER FOR COMPANY #2 STOCK. KNALL HAD REASON TO KNOW THAT THE INFORMATION HE OBTAINED WAS NONPUBLIC AND HAD BEEN ACQUIRED INDIRECTLY FROM A COMPANY REPRESENTATIVE. THREE TRADING DAYS LATER, ON JUNE 16, 2004, KNALL PURCHASED 10,000 SHARES OF COMPANY #2 STOCK TO COVER A PREVIOUSLY ESTABLISHED SHORT POSITION IN HIS PERSONAL BROKERAGE ACCOUNT. THE COMPLAINT ALSO ALLEGED THAT ON JUNE 21, 2004, THE COMPANY PUBLICLY ANNOUNCED ITS INTENTION TO ACQUIRE COMPANY #2 FOR $16.75 PER SHARE IN CASH VIA A TENDER OFFER. THE DAY AFTER THE ANNOUNCEMENT, COMPANY #2 STOCK CLOSED AT $16.68, A 50.3% INCREASE FROM THE PREVIOUS DAY'S CLOSING PRICE OF $11.10. BY COVERING HIS SHORT POSITION PRIOR TO THE PUBLIC ANNOUNCEMENT, KNALL AVOIDED $55,281 IN LOSSES. Resolution: Other SanctionDetails: Sanctions: Suspension Sanction Details: WITHOUT ADMITTING OR DENYING THE FINDINGS, RESPONDENT CONSENTS TO THE ENTRY OF THIS ORDER INSTITUTING ADMINISTRATIVE PROCEEDINGS PURSUANT TO SECTION 15(B) OF THE SECURITIES EXCHANGE ACT OF 1934 AND SECTION 203(F) OF THE INVESTMENT ADVISERS ACT OF 1940, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS ("ORDER"), AS SET FORTH BELOW.ACCORDINGLY, IT IS HEREBY ORDERED: PURSUANT TO SECTION 15(B)(6) OF THE EXCHANGE ACT AND SECTION 203(F) OF THE ADVISERS ACT THAT RESPONDENT KNALL BE, AND HEREBY IS SUSPENDED FROM ASSOCIATION WITH ANY BROKER, DEALER, OR INVESTMENT ADVISER FOR A PERIOD OF TWELVE MONTHS, EFFECTIVE IMMEDIATELY. RESPONDENT SHALL PROVIDE TO THE COMMISSION, WITHIN 20 DAYS AFTER THE END OF THE TWELVE MONTH SUSPENSION PERIOD DESCRIBED ABOVE, AN AFFIDAVIT THAT HE HAS COMPLIED FULLY WITH THE SUSPENSION.
Date: December 03, 2007 Category: Civil
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