A Financial Industry Regulatory Authority (FINRA) Arbitration Panel awarded $1.3 million in damages to a Mississippi investor who filed an arbitration action over the mishandling of her investments by Lanis Dale Noble (CRD No. 858005). Lanis Dale Noble is a former broker of Stifel Nicolaus & Co Inc. The Claimant is Noble’s former daughter-in-law.
The arbitration was commenced in August 2012, and Claimant made allegations against Noble for churning; breach of fiduciary duty; failure to supervise; fraudulent inducement and concealment; vicarious liability; negligence and other causes of action. The claim involved allegations surrounding the use of margin, and the purchases of variable annuities from SunLife and ManuLife and a Friedman Billings Ramsey real estate investment trust (REIT). (See FINRA Case No. 12-02897)
According to FINRA BrokerCheck Lanis Dale Noble has five disclosures on his FINRA report. One disclosure is a criminal case and the other four are customer disputes. Noble is not currently registered with any FINRA firm.
Lanis Dale Noble was an active broker for 27 years with the following member firm(s):
STIFEL, NICOLAUS & COMPANY, INC.
CRD # 793
RIDGELAND, MS
9/2000 – 11/2013
STERNE, AGEE & LEACH, INC.
CRD # 791
BIRMINGHAM, AL
9/1995 – 9/2000
UNION PLANTERS BROKERAGE SERVICES, INC.
CRD # 27348
2/1993 – 10/1995
PRUDENTIAL SECURITIES, INC.
CRD # 7471
NEW YORK, NY
9/1991 – 1/1993
DEAN WITTER REYNOLDS, INC.
CRD # 7556
PURCHASE, NY
8/1987 – 9/1991
PRUDENTIAL-BACHE SECURITIES, INC.
CRD # 7471
12/1985 – 9/1987
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