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Commissioners approve amendment clarifying Stifel role amid questions over underwriting and advisory services
Summary
The board approved an amendment clarifying Stifel, Nicolaus & Company’s role following prior discussion about the firm transitioning from underwriter to municipal advisor; county staff and the county prosecutor discussed applicable SEC and MSRB rules and confirmed no current legal conflict in prior contracts.
Lucas County commissioners on Aug. 12 approved an amendment to an agreement with Stifel, Nicolaus & Company to clarify the firm’s role after a transition from acting as underwriter to also providing municipal advisory services.
John Wenzlik of the Office of Management and Budget told commissioners the county has a long-standing relationship with Stifel that began in 2009. He said the board requested Stifel transition from serving only as an…
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