By Adrianne Appel2024-08-30T20:02:00
Raymond James & Associates (RJA) and its subsidiary agreed to pay more than $1.9 million to settle allegations levied by the Financial Industry Regulatory Authority (FINRA) that it didn’t have an effective system to handle customer complaints, along with millions of direct mutual fund transactions not reasonably being supervised.
RJA will pay a $525,000 fine and more than $26,000 in restitution to 19 customers, while its subsidiary Raymond James Financial Services (RJFS) will pay a $1.3 million fine and more than $85,500 in restitution to 40 customers, FINRA said in a disciplinary action Thursday.
Since January 2018, RJA failed to reasonably supervise the reporting of complaints and make sure that personnel manually enter information into its electronic system that would be part of quarterly filings to FINRA.
2024-09-20T18:47:00Z By Aaron Nicodemus
Historically, the SEC has fiercely protected the rights of retail investors, and is constantly churning out enforcement actions against investment advisers it alleges have defrauded and manipulated its customers. So, it was somewhat unusual the agency issued an enforcement action this week that involved protecting the rights of institutional investors.
2024-08-15T16:43:00Z By Aaron Nicodemus
Two regulators doled out more than $477 million in fines on a new group of broker-dealers, investment advisers, and swaps dealers that failed to maintain and preserve the electronic communications of their employees, bringing total such fines issued since 2021 to $3.2 billion.
2022-09-23T14:32:00Z By Kyle Brasseur
A broker-dealer unit of Raymond James Financial agreed to pay $500,000 as part of a settlement with the Securities and Exchange Commission for alleged supervisory failures that included the input of a misinformed compliance officer.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
2025-10-06T16:46:00Z By Aly McDevitt
A single $33,000 shipment to Iran triggered a six-figure penalty and years of compliance oversight for biotechnology company LuminUltra Technologies, Inc.
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