Eric Stiba is Facing SEC Allegations Regarding Regulation Best Interest

Eric Stiba (CRD #: 5635690), a broker registered with Lion Street Financial, is the subject of an SEC investigation. This is according to his BrokerCheck record, accessed on September 11, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investigation 

On May 10, 2024, the SEC made a preliminary determination to recommend that the Commission file an enforcement action alleging violations of Regulation Best Interest. The violations allegedly involved recommendations of alternative investments to certain investors. 

What is Regulation Best Interest? 

Regulation Best Interest expands on the requirements of FINRA Rule 2111, which defines suitable investment recommendations. In addition to limiting their recommendations to investments that suit their investors’ needs, brokerage firms must also uphold a Duty of Care, the Conflict of Interest Obligation, and the Disclosure Obligation. The Duty of Care requires brokers to have a reasonable basis to believe that the recommendation is in the best interest of a particular retail customer.  

Investor Disputes

There are also four investor disputes on his record. 

In one such dispute, dated July 10, 2023, investors made various claims against Eric Stiba regarding an alternative investment. The investors are seeking $200,000. 

Background Information 

Eric Stiba has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in 22 states and is a registered investment adviser in New Hampshire and Texas. 

During his 15 years of experience, Eric Adams has registered with the following firms: 

• Lion Street Financial (CRD #: 165828) 
• Lion Street Advisors (CRD #: 167610) 
• Woodbury Financial Services (CRD #: 421) 

Kurta Law Can Help 

If you worked with Eric Stiba and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.