An arbitration panel has ordered Stifel Nicholas & Co. to pay $70,000 out of a more than $7 million claim brought against the firm by Wachovia Securities for allegedly unfairly raiding one of its Oklahoma offices.

Wachovia first filed its claim with the Financial Industry Regulatory Authority in April 2009. In that claim, Wachovia alleged that Stifel took more than half of the advisors and business of its Tulsa, Okla., office.

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