TERRY LEE MILLNER is currently employed as a Broker and/or Investment Adviser at STIFEL, NICOLAUS & COMPANY, INCORPORATED located at 1400 WEST CENTURY AVENUE, BISMARCK, ND, 58503.
TERRY LEE MILLNER has worked at STIFEL, NICOLAUS & COMPANY, INCORPORATED since September 11, 2009
Disclosure History
TERRY LEE MILLNER has 5 Disclosure Event(s).
Date: March 20, 2008 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT HE WAS MISLED AND PLACED INTO UNSUITABLE INVESTMENTS [AUCTION RATE SECURITIES]. CLIENT FURTHER STATES THAT HE WAS LED TO BELIEVE THIS WAS A CHECKING ACCOUNT AND WAS NEVER ADVISED OF ANY RISKS OR POTENTIAL PROBLEMS WITH LIQUIDITY. DAMAGES ESTIMATED TO BE IN EXCESS OF $5,000 Damage Amount Requested: $5,000.00 Settlement Amount: $600,000.00 Broker Comment: THE COMPLAINT AROSE IN CONNECTION WITH THE INDUSTRY WIDE BREAKDOWN OF THE LIQUIDITY IN THE MARKET FOR AUCTION RATE SECURITIES ("ARS"). THE FIRM AGREED TO REPURCHASE THE ARS SECURITIES AT ISSUE AT PAR VALUE FROM THE CLIENT PURSUANT TO A GLOBAL REPURCHASE AGREEMENT IT ENTERED INTO WITH SEVERAL REGULATORY BODIES. THIS WAS NOT A SETTLEMENT OF A DISPUTE BETWEEN THE CLIENT AND THE REPRESENTATIVE AND WAS NOT BASED ON THE MERITS OF THE CLIENT'S SPECIFIC CONCERNS OR ANY FINDING OF FAULT OR WRONGDOING BY THE NAMED REPRESENTATIVE. THE NAMED REPRESENTATIVE WAS NOT A PARTY TO, AND DID NOT AGREE TO OR PARTICIPATE IN, THE REPURCHASE AGREEMENT BETWEEN THE FIRM AND THE RELEVANT REGULATORY BODIES. THE NAMED REPRESENTATIVE DID NOT MAKE ANY PAYMENTS TO THE CLIENT AND THE NAMED REPRESENTATIVE WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE SETTLEMENT AMOUNT. THE LISTED "SETTLEMENT AMOUNT" REPRESENTS ONLY THE GROSS INITIAL PAR VALUE OF THE ARS POSITION AND DOES NOT TAKE INTO ACCOUNT THE ACTUAL VALUE OF THE ARS POSITION AT THE TIME THE FIRM RECEIVED IT BACK FROM THE CLIENT IN CONNECTION WITH THE SETTLEMENT. THIS MATTER IS BEING REPORTED AS A SETTLEMENT PURSUANT TO THE REQUIREMENTS OF FINRA REGULATORY NOTICE 09-12.
Date: May 05, 2005 Category: Regulatory Initiated By: NORTH DAKOTA SECURITIES DEPARTMENT Allegations: RESPONDENT ENGAGED IN UNAUTHORIZED TRADING IN THE ACCOUNT OF A NORTH DAKOTA RESIDENT. RESPONDENT MISMARKED TRADE CONFIRMATION STATEMENTS TO INDICATE THAT THE TRANSACTIONS WERE "UNSOLICITED." RESPONDENT CONDUCTED TRANSACTIONS THAT WERE NOT SUITABLE FOR THE INVESTOR. Resolution: Consent SanctionDetails: Sanctions: Monetary/Fine SanctionDetails: Amount: $30,000.00 Sanction Details: PENALTY WAS JOINT AND SEVERAL WITH PIPER JAFFRAY. SETTLEMENT WITH THE NORTH DAKOTA INVESTOR HAD ALREADY BEEN REACHED.
Date: May 21, 2003 Category: Customer Dispute Allegations: CLIENT ALLEGES MISMANAGEMENT OF HER IRA. REALIZED LOSSES TOTAL APPROXIMATELY $103,000. NO SPECIFIC DAMAGES ALLEGED. Settlement Amount: $69,187.00
Date: November 03, 2000 Category: Customer Dispute Allegations: CLIENT ALLEGES BROKER INITIATED A 1035 ANNUITY EXCHANGE (HARTFORD TO ALLIANCE) ON 8/15/00 WITHOUT FULLY DISCLOSING IT WAS AN EXCHANGE FROM ONE CONTRACT TO ANOTHER AND WITHOUT DISCUSSING SURRENDER CHARGES ($5,740). SEEKS REINSTATEMENT OF OLD CONTRACT. Damage Amount Requested: $5,740.00 Broker Comment: AIG ANNUITY CANCELLED AND ORIGINAL HARTFORD CONTRACT RE-INSTATED WITH NO COST TO CLIENT OR FIRM.THE CLIENT STATED SHE DID NOT FILE A COMPLAINT AND NEVER INTENDED THE LETTER TO BE USED AS A COMPLAINT AND REQUESTED THE LETTER BE RETURNED, AS NO COMPLAINT WOULD BE ISSUED AGAINST ME. SHE DID NOT WRITE THE LETTER TO FILE A COMPLAINT. UNFORTUNATELY NOT KNOWING IT WOULD BE VIEWED AS SUCH SHE COULD NOT WITHDRAW IT.
Date: May 19, 1999 Category: Customer Dispute Allegations: CLIENT ALLEGES UNAUTHORIZED SALE OF 400SHARES WEN ON 10/30/98. DAMAGES SOUGHT IN EXCESS OF $5,000 Settlement Amount: $2,089.88 Broker Comment: NOT PROVIDEDDISCUSSED THIS SALE MANY TIMES WITH THE CLIENT.WE HAVE WORKED TOGETHER MANY YEARS. NEILEEN IS ONE OF THENICEST PEOPLE I KNOW & WORK WITH. FALLING PRICES & LOSING MONEYWAS A CONCERN FOR US. WE DECIDED IF THE STOCK WAS OK WE WOULDKEEP IT BUT WOULD SELL IT ON NEGATIVE NEWS. EVEN AFTER THESALE, I ASKED HER 3 -4 TIMES IF SHE WANTED TO BUST THE TRADE &REC. THE STOCK BACK. I WOULD DO THAT FOR HER - NO COST - SHEDID NOT WANT ME TO DO THAT. I WAS ONLY DOING WHAT WE HAD ALWAYSDONE. THIS IS WHAT WE HAD AGREED ON.
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