The White Law Group Reviews the regulatory history of Raymond James & Associates.
Raymond James & Associates, Inc. (CRD#: 705/SEC#: 801-10418,8-10999) is a registered broker-dealer and investment advisory firm headquartered in St. Petersburg, Florida. According to FINRA BrokerCheck, the firm has 252 regulatory events on its record, along with numerous disclosures tied to broker misconduct. These sanctions span FINRA, SEC, and state securities regulators.
Recent FINRA, SEC, and State Sanctions
- December 17, 2024 – Arizona Corporation Commission
Arizona regulators alleged Raymond James charged unreasonable commissions on low-principal equity transactions and failed to supervise. The firm was censured, fined $75,000, ordered to pay over $8.3 million in restitution across multiple states, and required to improve compliance systems. - August 29, 2024 – FINRA AWC
FINRA sanctioned Raymond James for supervisory failures in handling customer complaints and mutual fund purchases. More than one million transactions were excluded from oversight due to a faulty data filter. The firm paid a $525,000 fine, $26,169 in restitution, and agreed to supervisory undertakings. - August 14, 2024 – SEC Off-Channel Communications Order
The SEC found Raymond James failed to preserve required electronic communications. The firm admitted to the findings, was censured, ordered to cease and desist, and paid a $50 million civil penalty. An independent compliance consultant was also mandated. - June 27, 2024 – Kansas Securities Commissioner
Kansas regulators sanctioned Raymond James for charging unreasonable commissions on small equity trades. The firm was censured, fined $75,000, and ordered to pay at least $47,189 in restitution to Kansas investors, as part of the $8.3 million multi-state restitution plan. - May 31, 2024 – Missouri Securities Division
Missouri regulators cited supervisory failures that resulted in unreasonable commissions. The firm paid $138,887 in restitution to Missouri clients, $75,000 to NASAA, and $75,000 to the state’s Investor Education and Protection Fund.
Broker Misconduct and Barred Advisors
- Meredith Archer Webber (CRD#: 2435263) – Barred by FINRA in July 2025 for failing to cooperate in an investigation involving alleged misappropriation of elderly clients’ funds.
- Jordan P. McLendon (CRD#: 6410265) – Barred by FINRA in February 2025 after refusing to provide documents in a probe tied to falsified records and his termination from Raymond James & Associates.
- Bryan R. Noonan (CRD#: 4864372) – Barred in June 2024 for failing to cooperate in an investigation into undisclosed outside business activities and private securities transactions.
- Thomas Reyes (CRD#: 3168338) – Barred in June 2024 after refusing to testify in an investigation concerning unapproved annuities and undisclosed outside business activities.
- Michael Edwin Magruder (CRD#: 4579211) – Barred in June 2025 after failing to cooperate with a FINRA investigation into alleged customer loans and repayment issues, with multiple disputes and settlements on his record.
Investor Claims and Supervisory Failures
Broker-dealers such as Raymond James are required to establish supervisory systems that reasonably detect and prevent misconduct. Failures in oversight can result in investors being sold unsuitable investments, including high-risk alternative products and private placements. Supervisory breakdowns have led to significant investor harm and regulatory penalties.
Why Hire a FINRA Arbitration Lawyer
If you have suffered investment losses through Raymond James & Associates or one of its financial advisors, you may be entitled to recover damages through FINRA arbitration. The White Law Group’s attorneys can:
- Evaluate the strength of your claim.
- File a Statement of Claim on your behalf.
- Represent you through arbitration hearings and negotiate potential settlements.
FINRA arbitration is often faster and more cost-effective than traditional litigation.
Contact Us
The White Law Group is a national securities fraud and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington. If you invested with Raymond James & Associates and believe you may have suffered losses due to misconduct or supervisory failures, call 888-637-5510 for a free consultation.
Frequently Asked Questions (FAQs) – Raymond James & Associates
How many regulatory actions has Raymond James & Associates faced?
According to FINRA BrokerCheck, the firm has 252 regulatory events, making it one of the more heavily sanctioned firms in the industry.
Can investors recover losses from Raymond James?
Yes. Investors can pursue claims through FINRA arbitration if they suffered losses due to broker misconduct or the firm’s supervisory failures.
What kinds of misconduct have been reported at Raymond James?
The firm has faced actions involving supervisory failures, unreasonable commissions, recordkeeping violations, and barred brokers accused of misappropriation, falsified records, and unapproved securities sales.
