Stifel Financial has a long history of outstanding commitment and service to our clients, shareholders, and associates, as we firmly believe we must earn the utmost respect from these individuals. Stifel believes it is important to share with the public our code of ethics and internal policies. They are designed and implemented to ensure Stifel has superior corporate governance practices.

An important consideration for all companies today centers around corporate governance issues, primarily concerning companies' Board of Directors. The Stifel Board is comprised of nine independent directors and seven insiders. We believe this provides a balance between outside perspective and knowledge of specific business issues impacting our Company.

Above you will find pertinent information regarding our code of ethics and corporate governance guidelines. On behalf of Stifel and our Board of Directors, we hope this information answers any questions you may have and reassures you that our commitment to maintaining the trust of our clients, shareholders, and associates remains strong, now and in years to come.