Stifel Financial recently paid an additional $850,000 to settle another arbitration claim against the firm related to a former broker’s sales of structured notes, according to BrokerCheck. 

It’s the latest in a string of settlements and arbitration awards involving Chuck Roberts, a former Stifel rep who was barred from the industry in July for selling unsuitable investments to clients. Stifel’s punishment included a FINRA arbitration award of nearly $133 million, which was handed down in March. Stifel has filed a motion to vacate the award and is awaiting a decision. 

Stifel has already paid nearly $182 million in arbitration awards and settlements related to Roberts’ activity. The firm faces 23 pending arbitration cases, all of which involve the misrepresentation of the structured notes and the unsuitability of the investments for Roberts’ clients, according to BrokerCheck. 

A Stifel spokeswoman did not return a request for comment by press time.

In October, sources close to the investment banking community and Stifel said the legal entanglements could prompt Stifel executives to accelerate a decision to sell the remaining business, and confirmed that Raymond James has been discussed internally as a potential buyer.

When asked at the time about that report, Stifel CEO Ron Kruszewski replied with a written statement: “I don’t think Raymond James would sell to us, but if that ever changes, I’d be interested.” 

Related:SEC Charges WhatsApp Group Operators With $14M Crypto Scam

In other published reports, Kruszewski denied that the company was being sold to Raymond James. 

That same week, Stifel announced plans to sell its independent advisor channel, a small business unit with approximately 110 advisors and $9 billion in client assets, to Equitable.